Which of these instances would constitute labor-market discrimination? Henry receives a higher wage than Ryan. Henry and Ryan are identical in all of their labor-market characteristics except that
a. Henry is a college graduate, and Ryan has only a high school diploma.
b. Henry has 10 years of experience at his job, whereas Ryan has only five years of experience.
c. Henry is white and Ryan is Black.
d. by objective measures Henry consistently outperforms Ryan.
c
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If regulation imposes marginal cost pricing on a natural monopoly, then the monopoly will:
a. suffer persistent economic losses. b. earn a fair, but not excessive, return on its assets. c. produce too little output to achieve efficiency. d. experience diseconomies of scale.
What is the equilibrium price?
a. 1 euro = $2.00
b. 2 euro = $1.50
c. 2 euro = $2.00
d. 1 euro = $1.50
Inflation is defined as:
a) An increase in the price of expensive items, such as cars. b) An increase in relative prices. c) An increase in the average level of prices. d) The level of prices at full-employment.
Unemployment caused by people entering the job market and people quitting a job just long enough to look for and find another one is called:
A. cyclical unemployment. B. frictional unemployment. C. are not counted in the unemployment rate. D. structural unemployment.