Nurses who work in hospitals often are required to work on weekends, whereas nurses who work in doctors' offices generally only work Monday through Friday. Hospital nurses who must work on weekends are usually paid more than nurses working in doctors' offices for the same work even if they have the same skills and education. This difference in pay is attributed to
a. an efficiency wage.
b. compensating differential.
c. differences in the marginal product of labor.
d. differences in human capital.
b
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Which of the following would shift the money demand curve to the left?
a. A decrease in the price level. b. An increase in the interest rate. c. An increase in the price level. d. An increase in real income. e. None of the above.
Place point C on the graph to indicate where the United States economy operated in 1997.
Firms 1 and 2 compete in a Cournot duopoly. If firm 1 adopts a strategy that raises firm 2's marginal cost:
A. firm 2 will increase its output. B. firm 1 will enjoy higher profits. C. firm 1 will lose market share. D. All of the statements associated with this question are correct.
Bonds rated as "highly speculative" are:
A. rated so because they guarantee high returns for the buyer. B. rated so because they do not have any default risk. C. commonly referred to as junk bonds. D. ranked just above investment grade by Standard amp; Poor's.