The reason that unskilled construction workers typically receive higher wages than retail sales clerks is best explained by:
A. Discrimination
B. Geographic immobilities
C. Compensating differences
D. Noncompeting labor groups
C. Compensating differences
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Workers and firms are currently expecting the price level to increase from 110 to 114. The Federal Reserve then announces that it will be reducing the growth rate of the money supply
If the Fed's announcement is credible, and firms and workers have rational expectations, describe how the expectations of firms and workers will be affected and how the change in expectations will affect the unemployment rate.
Ad valorem taxation means
A) that only the value added by a service provider is taxed. B) that the tax rate is a percentage of the price paid for a product. C) a negative income tax. D) a progressive property tax imposed in some states.
A 2009 article in The Economist noted that some studies have provided evidence indicating that multipliers are
a. smaller in closed economies than in open economies. b. larger in closed economies than in open economies. c. smaller in capitalist economies than in socialist economies. d. larger in capitalist economies than in socialist economies.
Refer to the normal-form game of price competition shown below.Firm AFirm B??CD?A50,50500-x,200?B100,500-x50,50For what values of x is strategy D strictly dominant for firm B?
A. x = 450 B. All x > 450 C. All x < 450 D. x < 50