Susan argues that she is the victim of economic discrimination. The primary technical difficulty for an economist investigating her claim will be
a. defining economic discrimination.
b. finding a worker with the same productivity as Susan for comparison purposes.
c. defining statistical discrimination.
d. measuring Susan's human capital.
b
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Assume that emissions from electric utilities contribute to pollution in the form of acid rain. Which of the following describes how this affects the market for electricity?
A) The equilibrium in the market is not efficient; consumer surplus is equal to producer surplus. B) The equilibrium in the market is not efficient; because of the cost of the acid rain, economic efficiency would be greater if more electricity were produced. C) A deadweight loss occurs; at equilibrium the additional social cost of production is greater than the additional benefit to consumers. D) The equilibrium in the market is not efficient; the marginal benefit from electricity is greater than the marginal social cost.
At every point on the IS curve, the level of income on the horizontal axis equals
A) planned autonomous spending. B) planned autonomous spending times the multiplier. C) planned autonomous spending divided by the multiplier. D) planned expenditures times the multiplier.
If tax revenues equal 25 percent of total output and government expenditures equal 20 percent of total output, then there is a:
A. trade surplus. B. government budget surplus. C. trade deficit. D. government budget deficit.
What are the specific objectives of most central bankers?
What will be an ideal response?