Historically, female students have had ______.
a. the same access to rigorous curriculum as male students
b. more access to rigorous curriculum than male students
c. less access to rigorous curriculum than male students
d. different, but equivalent access to rigorous curriculum as male students
c. less access to rigorous curriculum than male students
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Increasing marginal returns occur when the
A) average product of an additional worker is less than the average product of the previous worker. B) marginal product of an additional worker exceeds the marginal product of the previous worker. C) marginal product of labor is less than the average product of labor. D) total output of the firm is at its maximum. E) total product curve is horizontal.
A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. This is an example of
A) cyclical unemployment. B) frictional unemployment. C) seasonal unemployment. D) structural unemployment.
When a firm makes zero economic profit, it means that: a. the firm is covering implicit costs alone
b. the firm is covering the total opportunity costs of its resources. c. the firm is covering explicit costs alone. d. the firm is running at an accounting loss.
A good example of a market that resembles a contestable market would be
A. electric power production. B. trucking companies. C. auto manufacturing. D. urgent-care clinics.