A temporary price differential in resource markets is
a. eliminated by resource movements
b. caused by a failure of firms to maximize profits
c. eliminated by resources moving from highly-valued uses to lower-valued uses
d. caused by Congress increasing the federal minimum wage
e. a result of firms using the MRP = MRC rule in hiring resources
A
You might also like to view...
Public goods, when left to the private market will be:
A. undersupplied. B. over consumed. C. under consumed. D. oversupplied.
Once active discrimination ends, it:
A. no longer affects people or markets. B. is quickly forgotten, and efficiency is reached. C. can have long-lasting effects on people and markets. D. None of these is true.
The winner's curse is not useful in understanding the performance of companies after a merger
Indicate whether the statement is true or false
In practice, money supply and short-term interest rates are determined by the
A. Treasury and Commerce departments. B. Federal Open Market Committee. C. Board of Governors. D. House and Senate.