If getting accepted into college is very difficult because of high standards of intelligence and ability, but students learn absolutely nothing while in college, it is most likely that
A) they will not be hired upon graduation.
B) attendance sends a signal to employers regarding ability.
C) nobody will want to go to college.
D) a college degree is not a credible signal.
B
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Information costs
A) are the costs of buying and selling financial claims. B) include the costs that savers incur to determine the credit worthiness of borrowers. C) include the costs borrowers incur to discover the best investments to make with the money they have borrowed. D) are zero in financial markets, but high for transactions carried out through financial intermediaries.
During times of economic boom, the spending on unemployment insurance:
A. likely falls, since more people are working. B. likely goes up, since wages typically rise during booms. C. likely stays the same, as government spending is through set criteria and unaffected by the business cycle. D. is usually based on discretionary fiscal policy.
Figure 11-9
In Figure 11-9, how much more than the long-run competitive price will the profit-maximizing monopolist charge?
A. $1 B. $2 C. $3 D. $11
What are the reasons for unequal distribution of income? List at least six reasons.
What will be an ideal response?