An example of a U.S. export would be:
A. a bushel of apples that Canadians pick and enjoy on a lovely fall day in Vermont.
B. an Apple computer purchased by a U.S. college student who plans to study abroad in France.
C. an Apple computer, made in the U.S., purchased by a French student.
D. a French bottle of wine consumed by an American.
Answer: C
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Suppose the market-clearing wage for pizza delivery workers is $7.00 per hour, but a $10.00 per hour minimum wage is enacted. Other things constant, the higher minimum wage tends to
A) increase the supply of pizza delivery workers. B) decrease the quantity demanded of pizza delivery workers. C) create a shortage of pizza delivery workers. D) accomplish all of the above. E) accomplish none of the above.
If prices are rising on average, then
A) real GDP will be less than nominal GDP in the years before the base year. B) real GDP will be greater than nominal GDP in the years after the base year. C) real GDP will always be equal to nominal GDP. D) real GDP will be greater than nominal GDP in the years before the base year.
In the presence of asymmetric information with costless monitoring and enforcement, a hire contract results in production efficiency
Indicate whether the statement is true or false
A man may be preferred to a woman by an employer who will make a substantial investment in the training of the employee because
a. most employers are sexist and think that women belong in the home caring for children. b. as a group women tend to have a weaker attachment to the labor force than men. c. employers have observed that women are less productive than men on most jobs. d. employers are afraid women will disrupt the workplace by distracting the male employees.