One reason why better-looking workers may have higher earnings is that physical attractiveness may enhance a worker's productivity for certain jobs, especially for those workers who deal with the public
a. True
b. False
Indicate whether the statement is true or false
True
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By acting as a lender of last resort during a bank panic, the Federal Reserve enables banks to
A) encourage the public to borrow directly from the Fed to alleviate the panic. B) call in their loans from their customers to restore faith in the banking system. C) borrow increasingly large amounts from the Fed, which will reduce the public's faith in the banking system. D) satisfy customers' desires to withdraw money and eventually restore the public's faith in the banking system.
There is no unified economic theory of how to construct the institutions that are central to the success of capitalism
a. True b. False
When you add payroll taxes and Medicare, the tax system becomes more progressive than when we solely consider the federal income tax
a. True b. False Indicate whether the statement is true or false
Relative to a competitive market equilibrium, the profit-maximizing quantity chosen by a monopolist will result in a deadweight loss because:
A. the monopolist will produce at a quantity lower than the competitive equilibrium. B. the monopolist will produce at a quantity higher than the competitive equilibrium. C. the monopolist will charge a price lower than the competitive equilibrium. D. the monopolist will keep producing at a quantity even though the MR < MC.