Differences in human capital are likely to
a. be unrelated to wage rate differences across gender classifications, since both men and women are required to complete requirements for a high school diploma.
b. be most helpful in explaining age discrimination, but unhelpful in explaining race discrimination.
c. explain some of the differences in average wage rates across age classifications.
d. explain all of the differences in average wage rates across gender classifications.
c
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Relative to free trade, domestic consumers of a good are ________ off with a tariff because of the ________
A) better; higher price and greater quantity sold B) better; higher price and smaller quantity sold C) better; lower price and greater quantity sold D) worse; lower price and smaller quantity sold E) worse; higher price and greater quantity sold
What is the difference between the short run and the long run as economists define the two?
Suppose there are two parallel highways between two cities with approximately equal traffic. What would you expect to happen if the state began charging tolls to drive on one of those highways?
A. Traffic would decrease on both roads. B. More drivers would drive on the non-toll road, making the toll road less congested. C. More drivers would drive on the toll road making the non-toll road less congested. D. Traffic would remain evenly divided between the two roads as drivers continuously sought the less-congested route.
According to classical economists, if there is a 12% increase in the money supply, what will happen to the price level?
a) The price level will increase by 6%. b) The price level will decrease by 6%. c) The price level will increase by 12%. d) The price level will decrease by 12%.