Which of the following is not true of employers who discriminate in a competitive market?
A. The employer will likely have to pay higher wages.
B. The employer will likely be at a competitive disadvantage.
C. The employer will likely have higher productivity.
D. The employer will likely have higher costs than non-discriminating firms.
Answer: C
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When there is a recession (a fall in output) and prices are increasing, and this situation is caused by adverse supply shocks, the term economists use to describe it is
A) stagflation. B) inflation. C) aggregate shifts. D) stagnation.
Some economists say that "full employment" exists in an economy when:
a. cyclical unemployment is 2 percent. b. cyclical unemployment is 4 to 6 percent. c. frictional unemployment is zero. d. the unemployment rate is 4 to 7 percent. e. the natural unemployment rate is zero.
Which expression below matches most closely the way economists go about testing their models?
A. "Seeing the results is the only way to know if you are right." B. "A bird in the hand is worth two in the bush." C. "In the long run, we are all dead." D. "Consistency is the hobgoblin of small minds."
Which of the following is not true about the information and advice investment bankers provide to clients?
A. It is highly valued if the fees paid for it are any indication of its value. B. It is often used to identify possible acquisition and merger candidates. C. It is public information that the bank compiles and makes available to anyone. D. It helps improve the allocation of resources across the economy.