Given that the median male is better paid than the median female, which of the following is a valid explanation for wage differences?
a. compensating differentials
b. differences in human capital
c. discrimination
d. All of the above can be a partial explanation.
d
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Suppose a patent is granted for a product that has the linear demand curve P = a - b Q. The constant marginal cost of producing this product is $50 per unit, a unit sells for $150, and consumers purchase 100 units of the good at that price
If the monopoly is maximizing profit, b equals A) 1. B) 1.5. C) 2. D) 2.5.
The Sherman Antitrust Act of 1890 prohibits:
a. monopolization. b. perfect competition. c. oligopoly. d. monopolistic competition.
Leading indicators of activity in the economy:
A) New building permits B) Current industrial production C) Labor cost per unit or output D) None of the above
During the recession of 2007-2009 in the United States, ________ relative to potential GDP
A) business fixed investment spending rose and net export spending declined B) federal government purchases rose and changes in business inventories declined C) consumption spending rose and residential construction spending declined D) net export spending rose and consumption spending declined