Airline companies engage in price discrimination by
A. Charging unrestricted fares.
B. Giving a temporary price cut.
C. Engaging in price-fixing.
D. Charging higher prices to customers who must travel on short notice.
Answer: D
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In Econland total output is $8 billion, population equals 500,000 people, and, of these, 400,000 are employed workers. Output per person in Econland equals ________ and average labor productivity equals ________.
A. $20,000; $20,000 B. $16,000; $20,000 C. $20,000; $16,000 D. $16,000; $16,000
Which of the following better explains the fact that computers are cheaper now than 10 years ago? a. c and d b. c and e c. The technology used in the production of computers has improved during this period. d. Resources used in the production of computers have become cheaper during this period
e. The demand for computers has increased substantially during this period.
Which of the following statements is correct?
a. Compensating wage differentials reflect different skills of workers. b. Discrimination by employers affects the marginal productivity of workers. c. The signaling theory of education suggests that schooling does not affect worker productivity. d. The superstar phenomenon explains why more talented entertainers earn more than less talented entertainers.
In the open-economy macroeconomic model, the quantity of dollars demanded in the market for foreign-currency exchange
a. depends on the real exchange rate. The quantity of dollars supplied in the foreign-exchange market depends on the real interest rate. b. depends on the real interest rate. The quantity of dollars supplied in the foreign-exchange market depends on the real exchange rate. c. and the quantity of dollars supplied in the market for foreign-currency exchange depend on the real exchange rate. d. and the quantity of dollars supplied in the market for foreign-currency exchange depend on the real interest rate.