Suppose the mean earnings of two groups differ. Which of the following would be the logical conclusion?
a. The group with the lowest earnings must be less productive.
b. Without consideration of preferences and productivity factors, differences in unadjusted mean earnings do not necessarily reflect employment discrimination.
c. The group with the lowest earnings must be the victim of employment discrimination.
d. The group with the highest earnings is more highly motivated and materialistic
b. Without consideration of preferences and productivity factors, differences in unadjusted mean earnings do not necessarily reflect employment discrimination.
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As more pollution is abated, the marginal social benefit from further abatement diminishes
a. True b. False
A monopolist can earn a positive economic profit, even in the long run
a. True b. False Indicate whether the statement is true or false
The 2010 Patient Protection and Affordable Care Act (Obamacare) contains a provision that may require individuals to either purchase private health insurance or pay a tax. This is an example of
A) a mixed economy. B) market capitalism. C) centrally planned socialism. D) the invisible hand.
An indifference curve shows combinations of goods ________
A) which the consumer prefers equally B) that are affordable C) that are inside or on the budget line D) that have the same relative price