The supply curve for a particular bond is horizontal
a. True
b. False
B
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A medical doctor who specializes in a particular field (e.g., surgery) generally earns more than a general practitioner because
a. of greater education and training requirements b. of differences in labor mobility c. a general practitioner is more likely to work in an urban area d. of discrimination e. a general practitioner treats a greater number of patients per day
Suppose hypothetically that you buy a lot of food such as tofu, veggie burgers, and organic fruit that are not included in the market basket used to compute the CPI. In addition, suppose that all of these goods have become cheaper over the last year, while the overall CPI has increased by 6 percent. Then which of the following is true? a. The CPI will understate the negative impact of inflation
on your purchasing power and standard of living. b. The CPI will still accurately state the negative impact of inflation on your purchasing power and standard of living. c. The CPI will overstate the negative impact of inflation on your purchasing power and standard of living. d. None of the answers above are correct.
An industry that has many sellers offering slightly differentiated products is called:
A. perfectly competitive. B. monopolistic. C. oligopolistic. D. monopolistically competitive.
Because there are costs to migration:
A. complete wage equalization is unlikely to occur, even if national governments impose no restrictions on migration. B. Migrants are more likely to move to countries far from their origin nation. C. Migrant and domestic-born workers are unlikely to be substitute resources. D. Wage equalization will only occur if migrant and domestic-born workers are complementary resources.