In 2017, approximately what percent of adults in the United States had not graduated from high school?
A. 4%
B. 20%
C. 15%
D. 2%
E. 8%
Answer: E
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Initially a firm pays a wage and gets an output per worker which are given index numbers of 1.00. Five possible 3 percent increases in the wage and the accompanying output per worker are as follows:
1.03 and 1.09, 1.06 and 1.17, 1.09 and 1.24, 1.13 and 1.29, 1.16 and 1.31. What is the efficiency wage? A) 1.03 B) 1.06 C) 1.09 D) 1.13 E) 1.16
Refer to the above figure. A price ceiling has been set at P1, and a black market has opened. The equilibrium black market price will be
A) below P1. B) between P1 and P3. C) above P3. D) P2.
When employment discrimination results from the personal prejudices of employers, economic theory suggests that
a. competitive forces will tend to reduce discrimination. b. the wages of employees who are discriminated against will rise. c. an employer who discriminates will have the same costs as those who do not discriminate. d. discrimination by an employer will reduce production costs since the employer can pay lower wages.
The tools of monetary policy:
A. are limited in number and never change. B. continue to evolve as the economy changes. C. are all equally effective since they all do basically the same thing. D. have been used in the same basic ways for a hundred years.