When Canadian firms outsource accounting services to the United States, in markets for the labor of accountants,
A) equilibrium employment and the market clearing wage rate will both increase in Canada, but equilibrium employment and the market clearing wage rate will both decrease in the United States.
B) equilibrium employment and the market clearing wage rate will both decrease in Canada, but equilibrium employment and the market clearing wage rate will both increase in the United States.
C) equilibrium employment and the market clearing wage rate will both increase in Canada and in the United States.
D) equilibrium employment and the market clearing wage rate will both decrease in Canada and the United States.
B
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The Soup Nut serves his signature minestrone soup in two different bowl sizes, large and small. What strategy should he use to extract the most surplus possible out of customers who come in two types, regular and big eaters, when he cannot distinguish between the two types by observation? a. Distort the size of the small bowl downward to make it less attractive to the big eaters, allowing him to
raise the price of the large bowl. b. Distort the size of the large bowl downward to make it attractive to both big and regular eaters. c. Distort the size of the small bowl upward to make it harder for regular eaters to separate themselves from big eaters. d. Distort the size of the large bowl upward to make big eaters less likely to consume the small bowl.
Since 1970, the poverty rate has largely fluctuated between:
A. 5 and 10 percent. B. 0 and 5 percent. C. 15 and 25 percent. D. 10 and 15 percent.
The Federal Reserve System was created in
a. 1776 b. 1894 c. 1913 d. 1930 e. 1936
In modern microeconomic theory, utility functions summarize:
A. cardinal information about preferences. B. ordinal information about preferences. C. absolute information about preferences. D. both cardinal and ordinal information about preferences.