When comparing average wages for male and female workers in the United States, wages paid to females have been about 40 percent less than those paid to male workers
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the scenario above. Which of the following is the optimum choice?
A) Apartment Very Close B) Apartment Close C) Apartment Far D) Apartment Very Far
An increasing-cost industry will have
A) a perfectly elastic long-run supply curve. B) a perfectly inelastic long-run supply curve. C) an upward sloping supply curve in the long run. D) an upward sloping demand curve in the long run.
After massive promotion of Justin Bieber's latest music album, the producers reacted by raising prices for his albums. This implies that promotion expenditures made the album demand
a. Elastic b. Unitary elastic c. Vertical d. Inelastic
The Consumer Price Index (CPI) differs from a chain-weighted price index in that the CPI:
A. requires calculation of GDP, while the chain-weighted index does not. B. measures the costs of a typical fixed basket of goods over time, while the chain-weighted index does not. C. allows for the goods consumed in an economy to change over time, while the chain-weighted index does not. D. compares the prices of all goods in one year to the prices of all goods in other years.