The crowding of certain ethnic or racial groups into specific occupations results in:
A. Lower wages, and a less efficient allocation of resources
B. Lower wages, but a more efficient allocation of resources
C. Lower wages, but no effect on the efficient allocation of resources
D. Higher wages and a more efficient allocation of labor resources
A. Lower wages, and a less efficient allocation of resources
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Suppose a man and a woman are in love and care for the other's happiness as well as their own consumption. Suppose the woman is more selfish than the woman UM = CM1/2 UW1/2 UW = CW2/3 UM1/3 They will maximize the joint happiness (UM + UW) where
a. CM = 100; CW = 0 b. CW = 100; CM = 100 c. 50 < CM < 100; 0 < CW < 50 d. 50 < CW < 100; 0 < CM < 50
Minimum wage laws have little or no effect in this segment
a. Low-skilled Labor b. Teenagers c. Highly skilled workers d. Unemployed workers
During the 1990s many countries developed a monetary policy framework that focused on inflation targeting. This is an example of policymakers:
A. developing a new intermediate target that will effectively result in the final objective. B. focusing exclusively on an intermediate target that will effectively result in the final bojective. C. focusing on multiple numerical targets. D. focusing directly on an objective.
Use the following table to answer the question below
Price per Unit Quantity Demanded per Year Quantity Supplied per Year $5 2,000 0 10 1,800 300 15 1,600 600 20 1,400 900 25 1,200 1,200 30 1,000 1,500 In this competitive market, the price and quantity will settle at