The statement that "night shift workers make a higher wage than day shift workers" is likely to reflect the fact that
a. most people's preference is to work the day shift.
b. some people prefer to work a night shift for nonmonetary reasons.
c. night shift jobs are generally more technically difficult.
d. more women than men work the night shift.
a
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A profit maximizing monopoly's price is
A) not consistently related to price that would prevail if the market was perfectly competitive. B) greater than the price that would prevail if the industry was perfectly competitive. C) less than the price that would prevail if the industry was perfectly competitive. D) the same as the price that would prevail if the industry was perfectly competitive.
Some oil refineries were damaged by Hurricane Ike of 2008, leading to
A) a decrease in supply of gasoline. B) a decrease in quantity supplied of gasoline. C) a decrease in demand for gasoline. D) a decrease in quantity demanded for gasoline.
Total cost is the
a. amount a firm receives for the sale of its output. b. fixed cost less variable cost. c. market value of the inputs a firm uses in production. d. quantity of output minus the quantity of inputs used to make a good.
The name given to government programs implemented to prevent or shorten recessions and counteract inflation is
A. supply-side economics. B. contractionary policy. C. monetary policy. D. stabilization policy.