Consider a law that limits women's access to certain "dangerous" occupations like coal mining and military combat service. Such a law would likely reduce women's wages because:
A. women would be overqualified for "non-dangerous" jobs.
B. labor supply in female-intensive occupations would increase.
C. women would be less likely to obtain college degrees.
D. comparable worth would no longer exist between men's and women's occupations.
Answer: B
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Refer to Figure 13-18. The diagram demonstrates that
A) in the long run, the monopolistic competitor produces the minimum-cost output level, Qa, but in the short run its output of Qb is not cost minimizing. B) it is possible for a monopolistic competitor to produce the productively efficient output level, Qa, if it is willing to lower its price from Pb to Pa. C) in the short run, the monopolistic competitor produces an output Qb but in the long run after it adjusts its capacity, it will produce the allocatively efficient output, Qa. D) it is not possible for a monopolistic competitor to produce the productively efficient output level, Qa, because of product differentiation.
Assume the market shares of the six largest firms in an industry are 15 percent each. The six-firm concentration ratio would indicate that the industry is highly concentrated, while the Herfindahl- Hirschman Index would not
Indicate whether the statement is true or false
If entry into an industry was very easy, the four firm concentration ratio would not be a very useful index of the competitiveness in that industry
a. True b. False Indicate whether the statement is true or false
Bartering is:
A. very efficient compared to using money. B. slightly inefficient compared to using money. C. just as efficient as using money. D. extremely inefficient compared to using money.