In a mixed economy, there is some public influence over the workings of free markets
a. True
b. False
Indicate whether the statement is true or false
True
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The real wage is the:
A. the ratio of wage of unskilled workers to the wage of skilled workers. B. marginal product of labor. C. supply of labor. D. price of labor.
The economic profits of many monopoly firms are reduced as a result of
a. rent-seeking activity b. government regulation c. demand inducement d. rent-seeking activity and price floors e. both a. and b.
Evaluate the following: "Employers who discriminate against women will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity)."
Which of the following is an example of rent seeking?
a. Enrique offers large donations to politicians if they promise to support his causes. b. Gennifer donates small amounts to many politicians throughout the year. c. Christa regularly writes letters to her representatives urging them to support certain policies. d. Martin makes a large donation to a special interest group whose work he admires.