Why, in the U.S., do professional soccer players command a far lower salary than professional baseball players?
A) Soccer is in much less demand.
B) Soccer costs less to manage and perform compared to baseball.
C) Soccer has yet to mature.
D) The baseball players prefer lobbied to keep soccer salaries low.
A
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P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
In the equilibrium of this game:
A. QRS-TV will air a sitcom and P-TV will air a reality show. B. QRS-TV will air a reality show and P-TV will air a sitcom. C. both stations will air sitcoms. D. both stations will air reality shows.
A price floor
A) changes the equilibrium price if it is imposed in black markets. B) changes the price and quantity if it is set below the equilibrium price. C) changes the price and quantity if it is set above the equilibrium price. D) does not create a black market if it is set above the equilibrium price. E) changes the price and quantity only if it equals the equilibrium price.
What are the terms of exchange and how are these terms related to the price?
What will be an ideal response?
One difficulty with any explanation of economic fluctuations based on a shift in labor supply is that
a. workers' preferences tend to change very quickly b. labor supply shifts all the time without causing recessions or expansions c. labor supply is difficult to measure d. workers' preferences tend to change very slowly e. the unemployment rate changes during economic fluctuations