Evidence from a study of the market for baseball players using 1960s data
a. indicated that sports with strong player associations are unlikely to experience wage discrimination.
b. suggested that government regulation had eliminated most evidence of wage discrimination.
c. found some evidence of consumer-driven wage discrimination.
d. found that measurement of marginal productivity was very difficult for baseball players.
c
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A decrease in the discount rate ________ bank reserves and ________ the money supply if banks respond appropriately to the change in the rate
A) increases; decreases B) decreases; decreases C) increases; increases D) decreases; increases
Another way to state the efficient markets hypothesis is: in an efficient market
A) unexploited profit opportunities will be quickly eliminated. B) unexploited profit opportunities will never exist. C) all prices can be accurately predicted. D) every financial market participant must be well informed about securities.
What is one reason it might be difficult to dissuade people from pirating music off the Internet?
A) Consumer surplus is very high when music is pirated. B) In general, consumers get a rush from "stealing." C) Consumers mistakenly believe that the Internet is public domain. D) Producer surplus is very low when music is pirated.
The primary cause of frictional unemployment is:
a. discouraged workers who give up looking for work. b. fluctuations in aggregate demand. c. the lack of training and marketable qualifications in job seekers. d. inaccurate information about job opportunities.