Which of the following statements is not consistent with the "environmental explanation" of wage and productivity?
a. "Women are more likely than men to leave the labor force to care for children and hence acquire less work experience than do men."
b. "Blacks and other minorities do not receive, on average, the same quality of education as whites."
c. "Boys are more likely than girls to receive moral and financial support from their families to attend college."
d. "Employers discriminate systematically against blacks and women."
d
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According to the textbook, government price controls fail because:
A. legislation cannot alter basic economic incentives. B. firms ignore the price controls. C. they are not enforced by government. D. bureaucrats lack accurate market data.
Why would an economist claim that "oil comes out of our minds"?
A) She wants to sound silly. B) She wants to tell lies. C) She wants to remind us that the recognition of useful resources is a product of our mental abilities. D) She wants to sound like a really big and important theorist and could not care less about the facts of the real world.
If the interest rate increases from 6 percent to 10 percent per year, each $100 saved will earn
a. $4 per year more than before b. $6 per year more than before c. $10 per year more than before d. $16 per year more than before e. $60 per year more than before
When new firms have an incentive to enter a competitive market, their entry will
a. increase the price of the product. b. drive down profits of existing firms in the market. c. shift the market supply curve to the left. d. increase demand for the product.