Other things equal, who of the following would not tend to earn more?
a. Someone in a riskier or more unpleasant job, rather than a safer or more pleasant job.
b. Someone in a job that requires a graduate degree rather than an undergraduate degree.
c. Someone who works longer hours, rather than shorter hours
d. All of the above would tend to earn more.
d
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Which of the following is an example of a negative externality?
A. Bad weather reduces the size of the wheat crop. B. A reduction in the size of the wheat crop causes the income of wheat farmers to fall. C. Smoking harms the health of nonsmokers who are nearby. D. Smoking harms the health of the smoker. E. all of the above
One determinant of the natural rate of unemployment is the
a. rate of growth of the money supply. b. minimum wage rate. c. expected inflation rate. d. All of the above are correct.
Which of the following statements best defines private costs?
A. They are costs borne by people other than those who commit the action. B. They are synonymous with social costs. C. They are internal in the sense that the buyer or seller must explicitly take them into account. D. They represent explicit costs incurred by producers in the private sector.
A huge 50 percent off sale on golf clubs is advertised for next week. What happens this week in the market for golf clubs?
A) The supply of golf clubs decreases. B) The demand for golf clubs increases. C) The demand for golf clubs decreases. D) The supply of golf clubs increases. E) The demand for and the supply of golf clubs decreases.