The high salaries paid to sports superstars in the United States are determined by
a. government regulations.
b. league regulations.
c. joint decisions by the club owners.
d. consumer demand.
d. consumer demand.
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The question "What are you going to do with that major?" implicitly questions
A) how much you learn in that major. B) whether the major should be offered on campus. C) how much the market values the human capital developed in the major. D) western bias.
In the short run, for a firm in monopolistic competition
A) the firm's economic profit must equal zero. B) marginal revenue exceeds marginal cost. C) price exceeds marginal cost. D) the firm is a price taker.
It has often been remarked that Democratic candidates are more liberal in the Democratic primaries and Republican candidates are more conservative in the Republican primaries than either is in the general election. The explanation for this is most probably that
A) they are facing politically different opponents in the two elections. B) the median voter preferences are more to the left (right) in the primaries than in the general election. C) more people vote in the general election than in the primaries. D) candidates are not as likely to locate the position of the median voter in the (earlier) primaries as they are in the (later) general election.
Why are many banks closing some of their branches?
A. they are replacing them with ATM machines. B. they are losing money in many areas. C. they can't find qualified employees. D. the banking industry has over built during the Great Recession.