Discrimination in the workforce
A. is due primarily to employees and not employers or consumers.
B. leads to inefficiency.
C. never leads to higher utility.
D. is due primarily to consumers and not employers or employees.
E. does not exist.
Answer: B
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A $2.00 increase in the size of a tax on a good will only cause the price for buyers to increase by $2.00 if
A) demand is perfectly inelastic. B) demand is perfectly elastic. C) demand is unit elastic. D) demand is inelastic, but not perfectly inelastic. E) demand is elastic, but not perfectly elastic.
The following are impediments to economic growth EXCEPT
A) dead capital. B) increased education. C) lack of economic freedom. D) bureaucratic inefficiency.
A cartoon in the text says that while the economy has been expanding, the share of income to blacks and poor whites has decreased. This implies that the
A. Tax elasticity of supply is greater. B. Level of income inequality has decreased. C. Gini coefficient is smaller. D. Area between the Lorenz curve and the absolute equality line has increased.
A newspaper article informs you that most businesses reduced production in the last quarter but also sold from their inventories during the last quarter. Based on this information GDP likely
a. increased. b. decreased. c. stayed the same. d. may have increased, decreased, or stayed the same.