In a market economy, income depends mostly on
a. productivity
b. luck
c. age
d. sex
e. discrimination
A
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Holding other factors constant, if the education and skills of the typical worker in an economy increases, then the real wages of workers will ________ and employment of workers will ________.
A. decrease; not change B. increase; increase C. decrease; increase D. increase; decrease
If reservation prices are positively correlated, then
A) pure bundling cannot increase a firm's profit. B) pure bundling can increase a firm's profit. C) it is unclear whether or not pure bundling can increase a firm's profit. D) consumers lose leverage over firms.
Compare and contrast the shapes of the short-run and long-run Phillips curves
In the long run, the equilibrium number of monopolistically competitive firms with trade:
a. is less than the total number of firms worldwide in autarky. b. is the same as the total number of firms worldwide in autarky. c. is greater than the total number of firms worldwide in autarky. d. may be less than, the same as, or greater than the total number of firms worldwide in autarky.