Economists understand that using statistical discrimination
A. is never rational.
B. means some individuals are discouraged from acquiring skills.
C. is always illegal.
D. All of the above
B. means some individuals are discouraged from acquiring skills.
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Which of the following is true of net taxes?
What will be an ideal response?
Relative to a profit-maximizing competitively organized industry that is producing 6,000 units of output at a price of $7 per unit, firms acting collusively under the same circumstances would produce ________ units of output and charge a price of ________ per unit.
A. more than 6,000; more than $7 B. 6,000; $7 C. less than 6,000; more than $7 D. less than 6,000; less than $7
What is efficiency?
What will be an ideal response?
According to the "square-root rule" of the transactions demand for money, the demand for money would
A) vary inversely with the interest rate. B) be zero if there were no costs to switching between money and interest-earning assets. C) vary less than proportionately with income. D) All of the above are correct.