Discrimination exists when a man and a woman with the same levels of education earn different incomes.
Answer the following statement true (T) or false (F)
False
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Most economists today believe that the Phillips curve is
A. vertical in the short run but downward sloping in the long run. B. upward sloping in the short run but vertical in the long run. C. downward sloping in the short run but vertical in the long run. D. vertical in the short run but upward sloping in the long run.
Refer to Scenario 12.2. This scenario has the characteristics of what game structure?
A) prisoner's dilemma B) pure coordination C) chicken D) assurance
The average total cost curve of a natural monopoly is always
A. upward sloping. B. horizontal. C. downward sloping at all points. D. downward sloping where it crosses the market demand curve for the good.
A market has the following characteristics: There is strategic pricing, output is somewhat restricted, there is interdependent decision making, and some long-run economic profits are possible. This market is:
A. an oligopoly. B. monopolistically competitive. C. perfectly competitive. D. a monopoly.