Describe how you might analyze and evaluate the following claim: College students who graduate during an economic recession accept jobs that, on average, pay 9% less than jobs accepted by students who graduate during economic expansions
What will be an ideal response?
First, you can look at historical data showing average introductory salaries for college graduates and at data showing the start and end dates for economic recessions and economic expansions over the years. You can then plot this data on a graph, comparing the average starting salaries to the years when the economy was experiencing economic recessions and economic expansions. Comparing the average starting salaries during each economic recession and during the economic expansions that immediately preceded and followed each recession will help you evaluate the claim.
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Define the term economics
What will be an ideal response?
Firms in a cartel or engaged in tacit collusion should set ________ equal to ________ to maximize profit.
A) the market marginal revenue; their firm's marginal cost B) their firm's marginal revenue; their firm's marginal cost C) their firm's marginal revenue; the market marginal cost D) the market marginal revenue; the market marginal cost
Think about cost structures associated with each of the following and decide which is most likely to be a natural monopoly
a. jewelry manufacturer b. tax-preparation firm c. movie theater d. city bus company e. dry cleaner
The CPI attempts to:
A. balance out the consumption of different types of people in different life situations. B. capture an average across a very large group of U.S. consumers. C. balance out the consumption of different types of people in different life stages. D. All of these statements are true.