Sue: "I much prefer eating at the El Grande Mexican Restaurant to the others in town because all of their employees are Mexican and speak Spanish. It gives the place a real 'authentic' feel." Which of the following is true about the above statement?
a. This is an example of customer-based discrimination for one group of employees over another.
b. If many customers felt the same way Sue does, there would be pressure for firms to satisfy this consumer preference in their hiring.
c. Despite customer preferences, we would expect the restaurants in town to hire equally from all racial and ethnic groups.
d. Both a and c are correct.
d. Both a and c are correct.
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The short-run aggregate supply curve: a. Is a schedule showing the relationship between the price level and the quantity of real GDP supplied. b. Is typically upward sloping
c. reflects output prices changing relative to input prices. d. all of the above
If you decide not to spend $1,000 you earned at your summer job but instead intend to buy shares in a mutual fund, in terms of aggregate economic accounting you would be:
A. saving. B. transferring. C. consuming. D. investing.
Which of the following is a possible benefit of labor unions?
A. They may help firms to retain a more experienced workforce. B. They may help firms reduce training costs of new employees. C. They may facilitate communications between workers and managers. D. All of these
Use the above figure. For this monopolistic competitor, which of the following is INCORRECT?
A. The profit-maximizing rate of output is at E, where MR intersects MC. B. The profit-maximizing rate of output is qe, and the profit-maximizing price is P. C. A downward sloping marginal revenue curve that is below the demand curve. D. The demand curve shows a direct relationship between price and quantity demanded.