Higher efficiency in the economy can be reached if prices are held low by law.
Answer the following statement true (T) or false (F)
False
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If a prisoners' dilemma game is played repeatedly, what punishment strategies might the players employ and how does playing the game repeatedly change the equilibrium?
What will be an ideal response?
Some take issue with the human capital argument that employers pay more for college graduates because firms recognize the value of human capital. What are two alternative explanations for why college grads receive higher pay?
What will be an ideal response?
Which of the following statements about an effective minimum wage is true?
A. Increasing the minimum wage makes it easier for unskilled workers to find jobs. B. A minimum wage tends to create unemployment among unskilled workers. C. A minimum wage shifts the demand curve for labor to the right. D. A minimum wage shifts the supply curve for labor to the right.
The Case in Point on "baldness and heart disease" suggests that by preventing baldness:
A) men can reduce the likelihood they will develop colon cancer. B) men are unlikely to influence their chances of having heart problems. C) men are likely to reduce their chances of having heart problems. D) men can live longer.