In the country of Freedonia, men and women have the same level of education and choose different forms of work in the same proportions. The only real difference is that men typically stay home to raise young children, returning to the work force after their children enter elementary school. If no discrimination exists, then we would expect that, on average,
a. women would earn less than men.
b. women would earn more than men.
c. men and women would earn the same wage.
d. wage differences between men and women would be due to differences in beauty.
b
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Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket falls from $50 to $20
A) everyone will buy a ticket. B) consumer surplus decreases from $48 to $24. C) only three tickets will be sold. D) consumer surplus increases from $0 to $62.
When people invest at home, it is called _____, and when they invest abroad it is called _______.
A. I; NCO B. I; NX C. S; I D. S; NCO
According to the graph shown, if the government decides to increase its spending, it is most likely at point:
A. C
B. B
C. D
D. It's impossible to tell without more information.
Your professor loves her work, teaching economics. She has been offered other positions in the corporate world that would increase her income by 25 percent, but she has decided to continue working as a professor. Her decision would not change unless
a. the marginal cost of teaching increased. b. the marginal benefit of teaching increased. c. the marginal cost of teaching decreased. d. the marginal benefit of a corporate job decreased.