When comparing average wages for black and white men in the United States, wages paid to black men have been about 20 percent less than those paid to white men
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following market types has the fewest number of firms?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly E) perfect competition and monopolistic competition
Why does demand not change when the price of a good changes with no change in the other influences on buying plans?
What will be an ideal response?
When all players are choosing their best strategies on the assumption that their opponents are doing likewise, the outcome is called:
a. a Stackelberg equilibrium. b. a Nash equilibrium. c. a Cournot equilibrium. d. a Bertrand equilibrium.
Exhibit 2-4 Production possibilities curve data A B C D E Capital goods 0 10 20 30 40 Consumer goods200 180 140 80 0 According to the data in Exhibit 2-4, a total output of 140 units of consumer goods and 10 units of capital goods would:
A. be unobtainable in this economy. B. be an efficient way of using the economy's scarce resources. C. result in the maximum use of the economy's labor force. D. result in a less than maximum rate of growth for this economy.