A college requesting applicants to submit their high school transcripts is an example of:
A. signaling.
B. statistical discrimination.
C. screening.
D. building a reputation.
Answer: C
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For a monopsony, the marginal cost of labor curve lies above the labor supply curve because
A) to hire one more unit of labor requires that the wage be raised for all units of labor. B) to hire one more unit of labor requires that the wage be raised for just the last unit of labor hired. C) to hire one more unit of labor, the firm uses its monopsony power to not raise the wage it pays. D) to hire one more unit of labor requires that the firm offer a lower wage.
The presidents most closely associated with the Great Depression were __________ and ____________.
Fill in the blank(s) with the appropriate word(s).
Both the long-run and short-run aggregate supply curves will shift when
A) the endowments of the factors of production change. B) the government increases defense spending. C) an event occurs which is expected to last only a short period of time. D) they are both upward sloping.
On average, college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age
a. True b. False