Which of the following is a reason for economic discrimination to occur?
A. differences in the quality of education
B. differences in gender
C. differences in access to education
D. barriers to entry in higher-paying occupations
Answer: B
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Assuming that resources are specialized, the opportunity cost of an item increases as the production of it rises. This implies that firms will produce more as
A. the price increases. B. the price decreases. C. the opportunity cost is greater than the price. D. government asks firms to produce more. E. the income of buyers increases.
The main source of conflict between employers and their organized workers is over the
(a) disparities in the wages and benefits between organized and unorganized labor. (b) disparities in the wages and benefits between employers and organized workers. (c) proceeds of selling goods and services made jointly between hired labor and business owners. (d) working conditions.
The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks. This information could be used to determine
A) the slope of Bobby's demand curve for juice. B) the amount by which Bobby's demand curve for juice shifts when his income rises. C) the amount by which Bobby's demand curve for juice shifts when the price of snacks rises. D) All of the above.
Monopolistic competition is characterized by: a. one firm selling several products
b. many firms selling the same product. c. many firms selling slightly different products. d. one firm selling one product.