Which of the following would constitute the strongest evidence of employment discrimination against female employees?
a. The average wage of female workers is lower than the average wage of males.
b. The average wage of female employees is lower than the average wage of males with similar productive characteristics.
c. The mean number of years of schooling of female workers is lower than that of males.
d. The average hours worked by female employees is less than the average hours worked by males.
B
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A country that has an absolute advantage in producing all goods will ________
A) have a comparative advantage in some goods but not all B) produce all goods at lowest opportunity cost C) have a comparative advantage in all goods D) not gain from specialization and trade
A competitive firm currently produces and sells 500 units of output. Its total revenue is $6,000; the marginal cost of producing the 500th unit of output is $14.50; and the average total cost of producing the 500th unit of output is $9.50 . Is the firm maximizing its profit, or should it increase or decrease output in order to increase its profit?
If the demand curve for a firm's output is P=100-Q, the total revenue curve will be
A. TR=100-2Q. B. TR=100Q-Q2. C. TR=P*Q. D. TR=100Q-2Q2.
Answer the following statement true (T) or false (F)
1) A firm's optimal amount of R&D occurs where the interest-rate cost of funds and the expected rate of return are equal. 2) Successful new products enable consumers to increase the total utility they obtain from a specific amount of their total spending. 3) Process innovation is represented as a downward shift in a firm's total product curve and its average total cost curve. 4) The theory that R&D expenditures as a percentage of firms' sales first rise, reach a peak, and then fall with increases in industry concentration is called the inverted-U theory of R&D. 5) The process by which new firms and new products destroy existing dominant firms and their products is called creative destruction.