One reason earnings tend to fall before retirement age is that
A) the experience of people is no longer valuable after they are 50 or 55.
B) people tend to reduce the number of hours they work after age 50.
C) people are retiring earlier.
D) firms discriminate against older workers.
B
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Refer to the above figure. Which panel does not represent a possible short-run situation for a monopolistically competitive firm?
A) Panel A B) Panel B C) Panel C D) Panel D
In a perfectly competitive industry, firms seek to maximize:
A) marginal profit. B) total revenue per unit. C) total profit. D) their percentage of the total market.
The debt-to-GDP ratio decreases when the primary deficit ________ or when seigniorage ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
The law of diminishing marginal utility exists for the first four units of a good if they have marginal utilities of:
a. 1, 2, 4, 8. b. 8, 4, 1, 2. c. 4, 8, 2, 1. d. 8, 4, 2, 1.