Wage discrimination means minority workers are paid unequal wages
a. True
b. False
Indicate whether the statement is true or false
False
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Five players are given $10 each and asked to contribute any portion of it to a group account. They are also told that the total collection will be doubled and distributed equally among each of them
In this case, the players are likely to contribute ________. A) $5 each B) $10 each C) $1 each D) nothing
If Japan is twice as good at producing cameras and three times as good at producing TV sets as the United States, Japan is said to have a comparative advantage in TV sets and the United States has a comparative advantage in cameras
a. True b. False Indicate whether the statement is true or false
How does saving help a nation’s economy to grow?
a. Saving allows a nation to invest in new, productive capital. b. When people have money saved, companies can pay lower wages. c. Saving artificially increases the value of the stock market. d. Saving prevents foreign countries from growing faster.
Real GDP would increase by 3 percent if nominal GDP increased by:
A. 2 percent and inflation increased by 1.5 percent. B. 5 percent and inflation increased by 2 percent. C. 1 percent and inflation increased by 2 percent. D. 6 percent and inflation increased by 2 percent.