Women earn less on average than men. Which of the following would be the logical conclusion?
a. Women must be the victim of employment discrimination.
b. Women must be less productive.
c. Men must be more highly motivated and materialistic.
d. Without consideration of preferences and productivity factors, differences in unadjusted mean earnings do not necessarily reflect employment discrimination.
D
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A firm maximizes its profit by producing the amount of output such that
A) marginal revenue equals marginal cost. B) marginal revenue exceeds marginal cost by some amount. C) marginal revenue is maximized. D) marginal cost is minimized. E) marginal revenue exceeds marginal cost by the maximum amount possible.
Which of the following best illustrates the fallacy of composition?
a. I hate driving to work when the traffic is so heavy, so I decide to leave 30 minutes earlier than in the past. If everyone were to leave 30 minutes earlier for work, we'd all get to work faster. b. A great many people have been immunized against polio because it can be such a devastating disease. As a result, I probably do not personally need to be immunized against polio. c. Whenever I attend a baseball game at the local stadium, the home team wins. Therefore, if I attend all of the team's local games, they will achieve a perfect winning record at home. d. The parking at Ohio State University is in short supply on the main campus. It would be better for more people to ride the bus to school.
Which of the following was a result of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA)?
A. All checkable deposits, whether at commercial banks, savings banks, savings and loan associations, or credit unions will have the same reserve requirements. B. The Fed has the power to change the reserve requirement on checkable deposits at commercial banks but not credit unions. C. The Fed has the power to set the reserve requirement on checkable deposits at credit unions, but once set, the reserve requirement cannot be changed for two years. D. Commercial and savings banks are regulated by the Fed, but credit unions and state banks are not subject to regulations, but must pay dues to the Fed.
Which of the following is the largest union in the United States?
A) International Brotherhood of Teamsters B) International Brotherhood of Electrical Workers C) National Education Association D) American Federation of State, County, and Municipal Employees