Which statement is true?
A. The firm is making a profit in the short run.
B. The firm is making a profit in the long run.
C. The firm is making a loss in the short run.
D. The firm is making a loss in the long run.
A. The firm is making a profit in the short run.
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Elinor Ostrom won the 2009 Nobel Prize in economics for her research showing:
A. social norms can sometimes be powerful enough for commonly held property to be managed extremely well. B. social norms are not an effective solution for the management of commonly held property. C. that privatization of public goods is the most effective solution to market failure associated with commonly held property. D. government provision of public goods is the most efficient solution to the tragedy of the commons problem.
Which of the following situations is the most common? Men and women
a. doing the same job and getting equal pay. b. doing the same job and getting unequal pay. c. doing very different kinds of work and consequently having different earnings. d. randomly distributed across occupations with average earnings about equal.
Cross-sectional analysis of age-earnings profiles of natives and immigrants in the United States tends to reveal that immigrants earn
A. the same on average as natives at all ages. B. lower wages on average than natives at all ages. C. lower wages on average than natives at young ages but earn equivalent to natives by age 45 and thereafter. D. about 10% more on average than natives at young ages but this premium disappears by age 45 and thereafter. E. lower wages on average than natives at young ages but earn about 10% more than natives by age 45 and thereafter.
An increase in the equilibrium price of electricity can be caused by
A. A decrease in the demand for electricity. B. An increase in the supply of electricity. C. An increase in the quantity demanded of electricity. D. An increase in the demand for electricity.