One possible measure of gender discrimination is to look at the difference between the average male wage and the average female wage. This is a poor measure of discrimination for all of the following reasons except that men and women
A. might have different preferences when it comes to supplying labor.
B. may differ in their taste for part-time jobs.
C. may differ in their overall level of skill.
D. may differ in their willingness to accept risky jobs.
E. may differ in the return they receive for their skills.
Answer: E
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Imagine you are a buyer in a double oral auction with a reservation value of $10 and there is a seller asking $8
a. How much will you gain from accepting this offer? b. If you are the only buyer, and you know that the lowest ask price is $2, should you accept this offer?
The demand curve facing a firm
a. indicates the amount of raw materials and other inputs the firm will purchase, at various prices b. indicates the amount of the good demanded from that firm by a particular consumer, at various prices c. indicates the amount of output that customers will purchase from the firm, at various prices d. shows the minimum price at which the firm can sell any given quantity of output e. is horizontal in the long run, but upward sloping in the short run
Which one of the following statements is false?
a. The economically optimal level of production is less than the open-access equilibrium level of production b. The economically optimal level of production occurs at the maximum sustainable yield c. Charging a license fee for access to a common resource will reduce the production level below the open-access equilibrium d. The "tragedy of the commons" is more likely to occur as production effort increases e. A license fee will reduce the incentives for entry into a market
The notion ofceteris paribusmeans "other factors being equal."?
Answer the following statement true (T) or false (F)