Nancy and Sheila are both loan officers who started working for their current employer during the same year, graduated from the same university with bachelors' degrees in economics, and achieved similar performance reviews. Nancy earned a master's degree last year. If Nancy earns a higher annual salary than Sheila because she has more formal education, the employer is
a. basing pay on experience.
b. paying efficiency wages.
c. practicing discrimination.
d. rewarding increases in human capital.
d
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The labor demand curve represents the relationship between the quantity of labor demanded at:
A) different income tax rates. B) different values of average product of labor. C) different wage rates. D) different prices of the good that labor is used to produce.
What shape does a production possibilities frontier take if it displays increasing opportunity costs? What shape does a production possibilities frontier take if it displays constant opportunity costs? Which shape is most common in production
situations?
Suppose the Fed purchases Treasury securities. Interest rates in the United States will ________ and the U.S. dollar will ________ against foreign currencies
A) decrease; depreciate B) increase; depreciate C) decrease; appreciate D) increase; appreciate
The statistical discrepancy account:
a. accounts for services. b. accounts for gifts to foreigners. c. is included to ensure a balance between debits and credits in the capital account. d. estimates transactions that were omitted from the official reporting process. e. causes the net balance in the balance of payments to be negative.