When earnings differentials are adjusted for such factors as age, education, and marital status, the
a. differential between the earnings of white males and those of minority males increases.
b. differential between the earnings of white males and those of minority males decreases.
c. corrected earnings of minority males are equal to those of similar white men.
d. corrected earnings of minority males are greater than those of similar white men.
B
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Under a fixed exchange rate system, if the inflation rate in the United States is 5 percent a year and the inflation rate in Australia is 0 percent a year, then the U.S. real exchange rate will
A) increase 5 percent a year. B) decrease 5 percent a year. C) remain constant. D) possibly increase or decrease.
In 1768-72, the top ten commodity exports of the thirteen colonies included all of the following except
a. tobacco b. bread and flour c. fish d. horses e. All of the above were among the top ten exports.
The price of a country’s exports relative to the price of its imports is called
a) the export price ratio b) the comparative advantage c) the tariff barrier d) the terms of trade e) the mercantile factor
If you advertise and your rival advertises, you each will earn $4 million in profits. If neither of you advertises, you will each earn $10 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $1 million and the non-advertising firm will earn $5 million. If you and your rival plan to be in business for 10 years, then the Nash equilibrium is:
A. for each firm to advertise every year. B. for neither firm to advertise in early years, but to advertise in later years. C. for each firm to advertise in early years, but not advertise in later years. D. for each firm to not advertise in any year.