The population of Parminder’s country has been growing rapidly. What can be assumed about her country?
a. Workers are becoming more educated.
b. The average citizen has a higher standard of living.
c. It has greater output than before.
d. Wages are at subsistence levels.
c. It has greater output than before.
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According to the Department of Justice merger guidelines, a proposed merger between two firms may be challenged if the post-merger Herfindahl-Hirschman Index
A) lies between 1,000 and 1,800 and the merger raises the Index by more than 100 points. B) lies above 1,800 and the merger raises the Index by less than 50 points. C) lies between 1,000 and 1,800 and the merger raises the Index by 50 points. D) lies below 1,000 and the merger raises the Index by 100 points.
Many economists suggest that absent legal mechanisms of discrimination, the wage paid to men and women will converge because
A. employers will feel guilty about paying men more when other firms pay equally. B. employers will feel guilty about hiring only men. C. it will be in the interest of profit-minded employers to hire women, thus bidding up their wages. D. if employers can hire men and women at the same wage, they will hire equal numbers.
Minimum wage laws cause unemployment because the legal minimum wage is set
A) below the market wage, causing labor demand to be greater than labor supply. B) below the market wage, causing labor demand to be less than labor supply. C) above the market wage, causing labor demand to be greater than labor supply. D) above the market wage, causing labor demand to be less than labor supply.
When actual inflation is greater than expected inflation,
A. there are transfers from lenders to borrowers. B. cyclical unemployment rises, according to Phillips-curve analysis. C. there are transfers from borrowers to lenders. D. the natural rate of unemployment rises, according to Phillips-curve analysis.