College students who increase their human capital by acquiring the skills required for certain occupations typically earn higher incomes than high school graduates. This is called:
A. the learning effect of a college education.
B. the signaling effect of a college education.
C. the discriminatory effect of a college education.
D. None of these
Answer: A
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The demand curve for U.S. dollars slopes downward because as the dollar ________ U.S. goods become ________ expensive to foreign residents, so they purchase fewer U.S. goods, and the quantity of dollars demanded decreases
A) appreciates; more B) appreciates; less C) depreciates; more D) depreciates; less
In long-run equilibrium, a monopolistically competitive firm achieves:
A. productive efficiency but not allocative efficiency. B. allocative efficiency but not productive efficiency. C. neither allocative efficiency nor productive efficiency. D. productive and allocative efficiency.
The Celler-Kefauver Act outlawed predatory pricing.
Answer the following statement true (T) or false (F)
Refer to the accompanying figure. Assume demand remains unchanged at D1. If supply shifts from S1 to S2, then the equilibrium price will ________ and the equilibrium quantity will ________.
A. rise; rise B. rise; fall C. fall; fall D. fall; rise