Some employers choose to discriminate as a means of ____ information costs by hiring workers from a similar background as those that were ____ productive in the past
a. increasing; more
b. reducing; more
c. increasing; less
d. reducing; less
b
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When economists model a game with three players instead of two, what is different about the payoff matrix and the payoffs listed in each cell of the matrix?
What will be an ideal response?
Refer to Figure 6-1. The demand curve on which elasticity changes at every point is given in
A) Panel A. B) Panel B. C) Panel C. D) none of the above graphs.
The urban consumers that the CPI is based on includes:
A. institutionalized persons. B. incarcerated persons. C. persons in the military. D. the CPI does not include any of these.
In a market that lacks sufficient competition,
a. output will generally be less than the output that is ideal from the standpoint of economic efficiency. b. output will generally be greater than the output that is ideal from the standpoint of economic efficiency. c. price will generally be less than the price that would result if the market was competitive. d. profit rates will generally be so low that government subsidies will be necessary to ensure that the firms remain in business.