Job market signals like dressing well for interviews are not especially effective because:
A) the cost of dressing well is about the same for high-quality and low-quality workers.
B) many businesses have adopted casual office attire, so dressing well is not important to the firm.
C) federal labor laws prohibit firms from using dress or appearance as an employment criterion.
D) none of the above
A
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A simple economic model predicts that a fall in the price of bus tickets means that more people will take the bus. However, you observe that some people still do not take the bus even after the price of a ticket fell
a. Is the model incorrect? b. How would you test this model?
Accounting profits are found by total revenues minus
A) explicit costs. B) explicit and implicit costs. C) implicit costs. D) all opportunity costs.
The real wealth effect provides a partial explanation for why the aggregate demand curve slopes downward. Which of the following statements best explains the real wealth effect?
A. At a lower price level domestically produced items are relatively less expensive than foreign goods and therefore are in greater demand. B. At a lower price level the real interest rate tends to be lower, and thus the quantity of investment goods demanded is larger. C. At a lower price level consumers will buy less because of a reduction in the real money supply. D. At a lower price level the purchasing power of accumulated savings is larger, and thus consumers will purchase more goods.
In the above table, the marginal propensity to save when disposable income changes from $5,000 to $6,000 is
A. 0.8. B. -0.2. C. 0.2. D. 0.1.