A consensus view among economists regarding the possibility of labor-market discrimination is that
a. most wage differences among groups are attributable to discrimination.
b. many employers use compensating differentials to hide discriminatory practices.
c. wage differences among groups are not sufficient by themselves to determine how much discrimination there is.
d. all wage differences among groups are attributable to differences in human capital and compensating differentials.
c
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The multiplier measures the:
A. number of times each dollar is spent in the economy. B. effect of government spending or tax cuts on national income. C. supply of money in the economy. D. effect of household spending on national income.
The cost of producing a car in Germany is 2,000 bushels of wheat, and the cost of producing a car in Canada is 1,200 bushels of wheat. The two countries can both benefit if the terms of trade are
a. greater than 2,000 of wheat per car b. less than 1,200 bushels of wheat per car c. between 1,200 bushels and 2,000 bushels of wheat per car, and Germany produces wheat d. between 1,200 bushels and 2,000 bushels of wheat per car, and Germany produces cars e. between 1,200 bushels and 2,000 bushels of wheat per car, and Canada produces wheat
When a $1,000 check written on the Chase Bank is deposited in an account at the Bank of America the:
a. Liabilities of Chase rise by $1,000. b. Reserves of Chase fall by $1,000. c. Liabilities of the Bank of America fall by $1,000. d. Reserves of the Bank of America fall by $1,000. e. All the above.
Table B shows the pricing options for two medical doctors operating as an oligopoly in a rural market. Which of the following pricing strategies does Table 8 depict?
a) Dr. Fine always plays “Tit-for-Tat” and Dr. Good always plays “Tit-for-Tat.”
b) Dr. Fine always plays “Tit-for-Tat” and Dr. Good always chooses the “Low” price.
c) Dr. Good always plays “Tit-for-Tat” and Dr. Fine always chooses the “Low” price.
d) Dr. Good always chooses the “Low” price and Dr. Fine always chooses the “Low” price.
e) When there is only a single period in which to choose and Dr. Fine does not know what Dr. Good will do, Dr. Fine always chooses the Nash Noncooperative Equilibrium price strategy.