Discrimination by a manager in the hiring process
a. decreases the firm's costs.
b. increases the firm's costs.
c. is evident if a white manager refuses to hire a certain black applicant.
d. is evident if a male manager fails to hire a certain female applicant.
b
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The Fed's forward guidance in 2011 and early 2012 was framed in terms of keeping interest rates low
A) for an extended period. B) at least until a particular date in the future. C) based on outcomes for the unemployment rate and inflation rate. D) until the next Presidential election.
Holding all other forces constant, if decreasing the price of a good leads to an increase in total revenue, then the demand for the good must be
a. unit elastic. b. inelastic. c. elastic. d. None of the above is correct because a price decrease never leads to an increase in total revenue.
A quota has all of the following impacts except:
A. generate revenues for government. B. create deadweight loss. C. drive up prices. D. help poorer countries.
Give an example of a firm that decides to shut down because it cannot cover variable costs. Use hypothetical numbers and avoid using any examples provided in the text.
What will be an ideal response?