Affirmative action programs serve three purposes. Which of the following is not one of those purposes?
A) Address current issues of discrimination.
B) Enhance diversity in places where it is of particular value.
C) Redress past wrongs.
D) Guarantee employment regardless of qualifications.
D
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Elizabeth's opportunity cost of selling a widget is $18, while Jess values it at $27 . Identify the correct statement from the following
a. Jess can threaten to go to another seller if the transaction benefits Elizabeth more than her. b. The core is of the zone of agreement. c. The core consists of prices above $27, which benefits both parties. d. Elizabeth can threaten to go to another seller if the transaction benefits Jess more than her.
If parking spaces on a college campus are scarce, with quantity demanded during the "peak" hours, from 8 a.m. to 11 a.m., far greater than the number of spaces, an economist would propose as an efficient solution,
a. lowering the parking fees during those hours to compensate students for the longer search time. b. charging the same parking fees during all hours of the school day. c. raising parking fees during the peak hours to encourage some students to schedule classes during other hours when parking fees are lower. d. hiring more security guards to patrol for illegal parkers.
Suppose Niampora, an island country, is the largest exporter of cotton in its region. A recent flood affected a large part of the country. Which of the following will be an impact of the flood on the supply curve of cotton?
a. The supply curve of cotton will shift rightward. b. The supply curve of cotton will shift leftward. c. The supply curve of cotton will become steeper. d. The supply curve of cotton will become flatter.
The case for a "hands off" economic policy is based on the widely held belief that
A. Fiscal policy works but monetary policy does not. B. Discretionary policy can improve the economy in theory but is often impractical in practice. C. Monetary policy works but fiscal policy does not. D. Economic theory is inadequate to formulate effective discretionary policy.