Which of the following is partially responsible for the male-female wage gap in the United States?
A. Women have, on average, less education than their male counterparts.
B. Women have, on average, less work experience than their male counterparts.
C. Women have been denied access to many occupations, leading to increased supply in a few occupations.
D. All of these are correct.
Answer: D
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As long as the value of additional units of output exceed the opportunity cost of that output, _____
a. it will not be produced b. it likely will not be produced c. it will be produced d. it is likely to be produced
Suppose that there is a decrease in the costs of production that shifts the short-run aggregate-supply curve right. If there is no policy response, then eventually
a) because unemployment is high, wages will be bid up and short-run aggregate-supply curve will shift right. b) because unemployment is high, wages will be bid down and short-run aggregate-supply curve will shift right. c) because unemployment is low, wages will be bid up and short-run aggregate-supply curve will shift right. d) because unemployment is low, wages will be bid up and short-run aggregate-supply curve will shift left.
_________ inflation can be explained by an ________ shift in the aggregate _________ curve.
A. Demand-pull, leftward, demand B. Cost-push, rightward, supply C. Demand-pull, leftward, supply D. Cost-push, rightward, supply
If a scalper for the Super Bowl is able to charge $5,000 for a front-row seat, this suggests that
A) at the regular price, there is a surplus of Super Bowl tickets. B) at the regular price, there is a shortage of Super Bowl tickets. C) at the regular price, the quantity of Super Bowl tickets demanded equals the quantity supplied. D) the scalper is making the football fan worse off.