Refer to Scenario 12.2. In this game, if both players end up playing their tough strategies, then
A) Eliza will donate a kidney and Jerome will not donate.
B) both Eliza and Jerome will donate a kidney.
C) Jerome will donate a kidney and Eliza will not donate.
D) neither Eliza nor Jerome will donate a kidney.
D
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Refer to the scenario above. The opportunity cost per dollar of value added in the production of Good X by worker 2 is ________
A) $87.50 of value added in the production of Good Y B) $100 of value added in the production of Good Y C) $0.50 of value added in the production of Good Y D) $0.70 of value added in the production of Good Y
Refer to Table 4-8. Suppose that the quantity of labor supplied increases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $9.00; Q = 410,000 B) W = $9.50; Q = 420,000 C) W = $8.00; Q = 390,000 D) W = $8.50; Q = 400,000
The price of one currency in terms of another is called
A) the exchange rate. B) purchasing power parity. C) the terms of trade. D) a currency band.
Which of the following is true?
a. if minority and white employees in a skill category are equally productive, the profit motive provides employers with a strong incentive to hire minority employees if they are available at a lower wage. b. the empirical evidence indicates that the earnings gap between whites and blacks is entirely the result of worker preference. c. employers who discriminate against blacks and other minorities will have lower costs than rival firms that hire employees strictly on the basis of productivity. d. after adjusting for factors such as education, experience, and location, the earnings of black men are almost identical to the earnings of white men.