Tiffany has just graduated from Stanford University and has applied for a job as an engineer at a manufacturing plant. The manufacturer decides to offer Tiffany a job because it perceives she's gained valuable skills while at Stanford. To which of the following views of education does the manufacturer subscribe?
a. signaling
b. human-capital view
c. compensating-differentials
d. superstar
b
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Which of the following is uncharacteristic of monopolistic competition in the long run?
a. firms selling heterogeneous products b. zero economic profits c. price in excess of marginal revenue d. equilibrium on the increasing portion of the average total cost curve
Bundle J contains 10 units of good X and 5 units of good Y. Bundle K contains 5 units of good X and 10 units of good Y. Bundle L contains 10 units of good X and 10 units of good Y. Assume that the consumer's preferences satisfy the four properties of indifference curves. The price of X is $1, the price of Y is $2, and the consumer has an income of $20 . Which bundle will the consumer choose?
a. bundle J b. bundle K c. bundle L d. either bundle J or bundle K
Refer to the table above. If there is no statistical discrepancy, the official settlement account balance equals
A) +$200 billion. B) -$20 billion. C) zero D) +$220 billion. E) +$20 billion.
The Medicare pay-as-you-go system is jeopardized by
a. an overly generous fee schedule that pays physicians more than private insurance for most procedures. b. the changing demographics of the U.S. population with an increasing percentage over the age of 65 c. a reliance on the premiums paid by the elderly themselves to fund a majority of the total cost of the system. d. allowing physicians to balance bill their patients. e. the rising costs of long-term care.