Which of the following employers is the most prejudiced? Employer:
A. A, whose d is $0.
B. B, whose d is $2.
C. C, whose d is $4.
D. D, whose d is $6.
Answer: D
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The price elasticity of demand for furniture is estimated at 1.3. This value means a one percent increase in the
A) price of furniture will increase the quantity of furniture demanded by 1.3 percent. B) price of furniture will decrease the quantity of furniture demanded by 1.3 percent. C) quantity of furniture demanded will decrease the price of furniture by 1.3 percent. D) quantity of furniture demanded will increase the price of furniture by 1.3 percent.
Rent-seeking activities are socially wasteful because they use scarce resources but do not add to society's output
a. True b. False
In a winner-take-all system, the highest incomes go to people with questionable skills, but who are the most competitive in the labor market
Indicate whether the statement is true or false
Major macroeconomic questions include all of the following EXCEPT:
A. What are the causes of unemployment? B. What causes economic growth? C. What causes differences in wages between men and women? D. Why does inflation vary over time and across countries?