Which of the following is an example of a compensating differential?
a. paying workers with more years of experience higher wages than workers with fewer years of experience, all else equal
b. paying workers who work on the day shift lower wages than workers who work the night shift, all else equal
c. paying accountants who have passed the Certified Public Accountant exam higher wages than accountants who have not passed it, all else equal
d. All of the above are examples of compensating differentials.
b
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By acting as a lender of last resort during a banking panic, a central bank allows commercial banks to
A) encourage the public to borrow directly from the central bank, taking pressure of the banking system. B) satisfy customer withdrawal needs and eventually restore the public's faith in the banking system. C) call in their loans to their customers and eventually restore the public's faith in the banking system. D) make additional loans to increase the assets on their balance sheets.
The requirement that New York City taxi drivers own a "medallion" in order to operate a taxi in the city reduces competition and raises the fares that customers pay
a. True b. False
The administrative burden of a tax is:
A. the difference between the revenues generated from the tax and the cost of the government program it is supposed to fund. B. what portion of the revenues come from the government. C. what portion of the revenues come from the producers versus the consumers. D. the logistical costs associated with implementing a tax.
The value of a sale of a share of stock is considered to be an investment in national income accounting.
Answer the following statement true (T) or false (F)