One reason why individuals with greater ability often receive higher wage rates is that they
a. face discrimination
b. have low marginal products
c. have high marginal revenue products
d. face diminishing marginal returns
e. often are employed in industries experiencing economies of scale
C
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A decrease in the real interest rate leads to a ________ the demand for loanable funds curve, and a decrease in the expected profit leads to a ________ the demand for loanable funds curve
A) rightward shift in; leftward shift in B) movement down along; movement up along C) rightward shift in; movement up along D) movement down along; leftward shift in
If demand is unit elastic, then a 10 percent increase in the price will lead to a 10 percent increase in quantity demanded.
Answer the following statement true (T) or false (F)
If the implied exchange rate between Big Mac prices in the United States and the Philippines is 68 pesos per dollar, but the actual exchange rate between the United States and the Philippines is 43 pesos per dollar, which of the following would you
expect to see? A) a depreciation of the dollar B) an increase in the demand for dollars C) an appreciation of the Philippine pesos D) a decrease in the demand for dollars
Samantha has been working for a law firm and earning an annual salary of $90,000 . She decides to open her own practice. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Samantha will cover her start-up expenses by cashing in a $20,000 certificate of deposit on which
she was earning annual interest of $1,000 . Assuming that there are no additional expenses, Samantha's annual implicit costs will equal a. $55,200 b. $221,400 c. $91,000 d. $146,200 e. $145,200