Using a Website created by the Sacramento Bee in 2008 that published the salaries of all California state employees, economists conducted research and found that
A) job satisfaction depends only on a person's salary.
B) employees with above-median earnings were, surprisingly, the least satisfied with their jobs.
C) knowing their co-workers' salaries affected employees' job satisfaction.
D) no employees seemed to be unsatisfied with their jobs or the salaries they were earning.
C
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Are markets always in equilibrium?
A. Yes, they are always at the equilibrium point, or very close to it. B. Yes, because few things tend to alter supply and demand. C. No, but if there is no interference, they tend to move toward equilibrium. D. No, they never “settle down” into a stable price and quantity. E. Uncertain, economic theory has no answer to this question.
The demand for oranges increases while the supply decreases. The equilibrium price of oranges ________, and the equilibrium quantity ________
A) rises; decreases B) falls; perhaps changes but we can't say if it increases, decreases, or stays the same C) falls; increases D) does not change; perhaps changes but we can't say if it increases, decreases, or stays the same E) rises; perhaps changes but we can't say if it increases, decreases, or stays the same
In first degree price discrimination,
a. each consumer pays the same price. b. all consumer surplus is captured by the seller. c. the seller separates the buyers into different groups. d. the seller charges different prices per unit for different quantities.
A firm is more likely to adopt multiple brand names for the same product when the good is a non-durable
Indicate whether the statement is true or false