From a purely economic point of view, discrimination is established if:
a. black teenagers earn more than white teenagers do
b. all factors are earning an amount equivalent to their marginal revenue product.
c. women earn less than men do.
d. equivalent factors earn different payments for equal contributions to output.
d
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A graph shows that as fees to use ATM machines increase, people use them less frequently. The graph of this relationship would show
A) an inverse relationship. B) a negative relationship. C) a direct relationship. D) Both answers A and B are correct.
Refer to Figure 4-6. What area represents the deadweight loss at P2?
A) G + H B) C + E C) B + C D) C + E + H
Which of the following best characterizes the profit of a buyer of a futures contract?
A) spot price at settlement minus futures price at purchase B) futures price at settlement minus spot price at purchase C) futures price at purchase minus spot price at settlement D) spot price at purchase minus futures price at settlement
To escape poverty, a country needs
a. Western banks to report deposits by corrupt officials b. to develop laws and regulations to ensure the transparent management of natural resources c. special trade advantages d. ten years of domestic peace e. All of the answers are correct