Which of the following is not an interpretation of the "beauty premium"?
a. Beautiful workers are not willing to work for lower wages.
b. Good looks are a type of innate ability causing the worker to be more valuable to the firm.
c. The beauty premium is a type of discrimination.
d. Beauty is an indirect measure of other types of ability.
a
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In the Keynesian model, the difference between using monetary and fiscal policy to eliminate a recession is that
A) monetary policy will eliminate a recession quicker than fiscal policy will. B) fiscal policy will eliminate a recession quicker than monetary policy will. C) an expansionary monetary policy will leave the economy with a lower real interest rate than an expansionary fiscal policy. D) an expansionary fiscal policy will leave the economy with a lower real interest rate than an expansionary monetary policy.
Which of the following is an example of U.S. foreign direct investment?
a. A Swedish car manufacturer opens a plant in Tennessee. b. A Dutch citizen buys shares of stock in a U.S. company. c. A U.S. based restaurant chain opens new restaurants in India. d. A U.S. citizen buys stock in companies located in Japan.
Game theory is distinctive in that its elements are
A) costs, prices, and profits. B) revenues, elasticity, and profits. C) rules, strategies, payoffs, and outcomes. D) patents, copyrights, and barriers to entry.
What is/are the central argument(s) against tariffs?
(a) They redistribute income away from consumers who are paying higher prices because of the tariffs. These rents are given to the individual industries that are protected by the tariffs and are operating inefficiently. (b) A laissez-faire economy is the American way. (c) They protect the wealthy. (d) They benefit only fast-growing industries.