Empirical work that does not account for differences in the productivity of workers
a. is unlikely to find evidence of wage differentials.
b. can provide strong evidence of labor market discrimination.
c. is likely to misinterpret apparent evidence of labor market discrimination.
d. is accepted as superior to empirical work that does correct for differences in productivity of workers.
c
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The balanced budget multiplier is equal to
a. 1/(1 – MPC) b. 1/(1 – MPC) + –MPC/(1 – MPC) c. MPC/(1 – MPC) d. (1 – MPC)/MPC e. 2
Economic profits in the rent-a-wreck industry are $400,000 per firm. Assuming that the industry is perfectly competitive,
A. new firms will enter and the supply of the car rentals will increase. B. new firms will enter but there will be no effect on the supply of car rentals. C. firms will leave the industry and supply will fall. D. the industry is in equilibrium.
When the Fed sells securities through open market operations, the equation of exchange (under monetarist assumptions about V being stable) requires that either aggregate spending
A. Or prices increase, or both. B. Or prices decrease, or both. C. Decreases or prices increase, or both. D. Increases or prices decrease, or both.
Seniors paying a lower price for tickets at movie theatres.
Answer the following statement(s) true (T) or false (F)