Incomes for adults vary widely across race and gender in the United States. These differences could be due to:
A. discrimination.
B. choice of occupation.
C. education.
D. All of these can explain the differences.
Answer: D
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Banks earn a profit by
A) charging an interest rate on their depositors' accounts. B) making loans at a higher interest rate than the rates that they offer on their deposits. C) not paying interest on their reserves. D) making loans at a lower interest rate than the rate that they offer on their deposits. E) keeping as many reserves on hand as possible.
A principal-agent problem occurs when hiring workers to work for a firm because
A) workers' interests are not always the same as the interests of the owners of the firm. B) workers do not respond to incentives. C) the owners of a firm are always in a position to exploit the workers. D) workers' interests are not important in the managerial decisions of the firm.
An indexed payment is one
A. whose real value changes with the rate of change in the price level. B. whose nominal value is held constant. C. whose dollar value changes with the rate of change in the price level. D. whose nominal value is equal to its value.
A firm that faces a downward sloping demand curve is
A. a price taker. B. a price creator. C. a price provider. D. a price searcher.