Which of the following is a reason for economic discrimination to occur?
A) differences in access to education
B) differences in gender
C) differences in the quality of education
D) barriers to entry in higher-paying occupations
Answer: B
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Economies of scale exist when the ________ a unit of a good ________
A) average cost of producing; falls as its output rate increases B) price; falls as its input rate decreases C) price; rises as its output rate increases D) average cost of producing; rises as its input rate increases
The Taylor rule is consistent with the Fed's dual mandate of
A) stable exchange rates and price stability. B) price stability and maximum sustainable employment. C) financial market stability and stable exchange rates. D) maximum sustainable employment and financial market stability.
Which of the following statements is FALSE?
A) Cartels only form among members of an oligopoly. B) A cartel might form if members believe they can increase profits by coordinating activity. C) Members of a cartel produce less output than that produced in a competitive market. D) Cartel members often have an incentive to cheat.
Structural unemployment is a result of
a. difficulties in matching qualified workers with available jobs. b. inaccurate or costly information about job opportunities. c. slow or negative economic growth, as during a recession. d. not enough workers to fill available jobs.