A study by labor economists Hamermesh and Biddle found that
a. shorter-than-average men earn more than shorter-than-average women, all else equal.
b. above-average looking people earn more than average-looking people, all else equal.
c. shorter women earn more than taller women, all else equal.
d. All of the above are correct.
b
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When institutions do not protect private property rights, do not uphold contracts, interfere with the working of markets and instead erect significant barriers into businesses and occupations, they are referred to as:
A) transitive economic institutions. B) extractive economic institutions. C) inclusive economic institutions. D) exclusive economic institutions.
If politicians decide to proceed with protection, why might economists prefer tariffs to quotas? Explain at least three reasons
What will be an ideal response?
Which of the following will tend to occur if price controls are imposed on a product?
a. persistent shortages b. illegal markets c. illicit channels of distribution d. industry investment slows or stops e. All of the above are correct.
If a U.S. firm buys Chinese toys using previously obtained Chinese currency, then both U.S. net exports and U.S. net capital outflow decrease
a. True b. False Indicate whether the statement is true or false