Assume that the average male wage rate is 20 percent higher than the average female wage rate. One can infer that:
A. customers overvalue male employers, so employers pay males more.
B. this is evidence of discrimination because females should be paid the same as males.
C. this is evidence of discrimination only if all factors affecting productivity are equal.
D. employers undervalue female employees, so they're able to pay them less.
Answer: C
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If firms accused of antitrust violations sign a consent decree, they have
a. admitted guilt and accept the lawful penalties b. admitted guilt, but are relieved of any penalties by agreeing to cease the violations c. agreed to cease the alleged wrongdoing, without admitting guilt d. denied the accusation and requested a formal hearing or trial e. denied the accusation and given proof that it is untrue
The "independence of irrelevant alternatives" criterion is also known as the:
A. majority options problem. B. third-party problem. C. swing-vote problem. D. misalignment problem.
The ______ of money refers to the intensity with which money is used.
a. rate b. velocity c. depreciation d. appreciation
A monopolistically competitive firm can minimize its losses by producing where ________ as long as ________.
A. P = ATC; P > MR B. MR = MC; P > AVC C. P = MR; P > AFC D. P = MC; P > ATC