According to the signaling view, education
a. has no effect on lifetime earnings.
b. alters work ethic.
c. enhances productivity.
d. is an indicator of natural ability.
d
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If the Herfindahl-Hirschman Index (HHI) among the firms in the long distance telecommunications market is equal to 855, when would the Federal Trade Commission probably challenge a proposed merger between any two of the firms?
A) It would challenge if the HHI would increase by more than 50 points. B) It would challenge if the HHI would increase by more than 100 points. C) It would challenge no matter what happened to the HHI because the market has so few firms. D) It would not challenge because the HHI is less than 1500.
In the market for reserves, if the federal funds rate is above the interest rate paid on excess reserves, an open market purchase ________ the ________ of reserves which causes the federal funds rate to fall, everything else held constant
A) increases; supply B) increases; demand C) decreases; supply D) decreases; demand
In recent years, the number of private, for profit, _________________ has increased dramatically.
Fill in the blank(s) with the appropriate word(s).
An economy is producing at the least-cost rate of production when:
A. marginal cost is greater than average total cost. B. price and marginal revenue are equal. C. price and the minimum average cost are equal. D. marginal revenue is greater than price.