When employment discrimination results from the personal prejudices of employers, economic theory suggests that
a. it is costless for employers to discriminate against groups they do not like.
b. the wages of employees who are discriminated against will actually rise.
c. an employer who discriminates will experience higher costs.
d. discrimination by an employer will reduce production costs since the employer can pay lower wages.
C
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The U.S. government provides monthly payments to retired workers under which program?
A) the Old Age, Survivors, Disability and Health Insurance (OASDHI) B) the Temporary Assistance for Needy Households (TANF) C) the Supplementary Security Income (SSI) D) a series of income tax rebates
Which of the following is the most critical signaling mechanism in markets?
a. quantity b. price c. cost d. government regulation
If one country has the ability to produce all goods and services more efficiently than any other country, then:
A) there is no benefit to be derived from trading. B) there is still benefit to trading because the advantages to trade depend on comparative advantage and not on an absolute ability to produce more efficiently. C) it should not trade but should isolate itself from the less productive rest of the world. D) it must be a very large country.
What are the functions for MC and AC if TC = 100q + 100q2? Are the returns to scale increasing, decreasing, or constant?
What will be an ideal response?