Which of the following is not an example of a compensating differential?
a. paying workers who do dull, boring work higher wages than workers who do fun, interesting work, all else equal
b. paying workers who work on the night shift higher wages than workers who work the day shift, all else equal
c. paying workers who do more dangerous work higher wages than workers who do less dangerous work, all else equal
d. paying workers with PhDs higher wages than workers with BAs, all else equal
d
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An advantage of capitalism is that
a. It allows the market to self-regulate and clear itself b. It allows a person to follow his or her own self interest c. It allows voluntary transactions, which create wealth d. All of the above
A major institution in international regulation is the
A) WTO. B) Federal Reserve. C) FDIC. D) TSA.
In a market economy, the main market signal to competitive suppliers is
a. the number of consumers b. consumers' income c. the rate of inflation d. the price of the product e. the unemployment rate
Look at the following data: The frictional unemployment rate is 2 percent, the structural unemployment rate is 3.5 percent, and the actual unemployment rate is 9.5 percent. The natural unemployment rate is ____________ percent and the cyclical unemployment rate is __________ percent
A) 1.5; 4 B) 5.5; 4 C) 1.5; 6 D) 6; 15