The existence of differences between the average earnings of men and women:
a. proves the existence of discrimination
b. may be partially due to factors other than wage discrimination.
c. proves that men on average invest more in human capital than do women.
d. indicates that men are on average smarter than women are.
b
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In 1990, Britain joined the ERM. If the German Bundesbank increased interest rates, assuming Britain maintains its exchange rate peg, the likely impact on the British economy would be a(n):
A) recession. B) inflationary economy. C) stronger pound. D) decrease in taxes.
Credit risk reflects:
a. A company's expected performance, level of solvency, and potential inability to service its debts. b. A company's ability to get "credit for its performance" in the stock market, which means having its share price rise at the same rate or faster than profitability. c. The variability of cash flows for the national government. d. All of the above.
Mike Miller is the town manager of Medfield, a town with 50,000 residents. At a recent town meeting, several citizens proposed building a large public swimming pool in the center of town for all of the residents to enjoy. A survey of all 50,000 residents revealed that the pool would be worth $50 to each of them. Because the cost to build the swimming pool is only $1,000,000 . Manager Miller
arranges to have the pool built. Everyone in town enjoys the pool, but when Manager Miller asks for donations to pay for the pool, he only collects $250,000 . Manager Miller soon realizes that a. the survey was conducted improperly. b. the cost of the pool exceeded the social benefits. c. the pool is a club good. d. most residents of the town are probably free-riders at the pool.
If the demand for a monopoly's output shifts rightward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer. B) the monopoly is a price taker. C) the monopoly has no supply curve. D) the monopoly's marginal cost curve might not be upward sloping.