If an employer pays a man a higher wage than a woman, the employer
a. is discriminating against the woman but is still maximizing profit.
b. is not discriminating against the woman.
c. may or may not be discriminating against the woman.
d. is discriminating against the woman and is not maximizing profit.
c
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In the classical model, a temporary decrease in government spending would cause a decrease in
A) output, the real interest rate, real wages, and the price level. B) employment, the real interest rate, real wages, and the price level. C) output, employment, the real interest rate, and the price level. D) output, employment, real wages, and the price level.
Which of the following scenarios would support the theory of public choice?
A. A college president eliminates wasteful departments and programs even though this will shorten her tenure and her political future. B. The local police chief fails to give the mayor a speeding ticket because the mayor might fire him. C. The president of Colombia goes after drug traffickers despite death threats and the offer of bribes that could make him a rich man. D. The governor of the state vetoes a highway bill even though the highway would enhance the value of property he or she owns.
Price ceilings are only effective when they are placed below the market equilibrium price
Indicate whether the statement is true or false
Is increased capital spending the only way for an economy to expand its production possibilities frontier?
a. No, an economy can also expand by invention and innovation. b. No, an economy can also grow by investment instead of capital spending. c. Yes, more capital is the only way to expand its production possibilities frontier. d. Yes, although more capital clearly has a high opportunity cost. e. Yes, because capital is the only constraining resource that limits growth.