Patrick is considering two different jobs in the same city-one as a bicycle courier, and the other as a mail room clerk. Both require equivalent training. He finds neither job very appealing, but, if they pay the same wage rate, Patrick would prefer to work as a mail room clerk. In order for Patrick to find the two jobs equally attractive, the
a. mail room job must pay a compensating wage differential
b. mail room job must pay a preference premium
c. courier job must pay a compensating wage differential
d. courier job must involve longer working hours
e. mail room job must involve longer working hours
C
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Refer to Tax Problem. If the government imposes a $10 per unit consumption tax, then the market will produce
Consider a perfectly competitive market were demand is Q = 100 - P and Supply is Q = P - 10. a. 20 units b. 40 units c. 45 units d. 90 units
The current account balance is defined as
A) the value of exports - the value of imports. B) the amount of exported capital assets + net interest income. C) the value of exports - the value of imports + net interest income + net transfers. D) the difference between the import and export of official reserves.
Randomized controlled trials:
A. choose people randomly to measure the impact of a particular intervention, saving the cost of evaluating all participants. B. randomly assign people into control and treatment groups in order to focus on the impact of a particular intervention. C. control how much of a treatment is given to each participant in order to measure the ideal quantity. D. are not a useful tool in assessing how specific interventions may influence economic development.
We say economists are doing positive economics when they
A. try to improve the welfare of all citizens. B. look for regularities and principles in economic life that can help show how the economy works. C. claim that there is no value free social science so articulating one's values is important. D. focus on policies and rhetoric that encourage people to be optimistic about the future.