Price discrimination is ________ in the United States and ________ practiced.
A. legal; rarely
B. illegal; widely
C. illegal; rarely
D. legal; often
Answer: D
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Based on labor-market studies using regression analysis, once educational attainment is accounted for with college graduates, the wage gap between Asians and whites ________ and the wage gap between whites and blacks ________
A) disappears; greatly narrows B) grows; grows C) grows; disappears D) greatly narrows; grows significantly
The labor market is in equilibrium when:
a. the demand curve lies above the supply curve. b. both demand and supply curves are positively sloped. c. both demand and supply curves are negatively sloped. d. the demand curve intersects the supply curve. e. the demand curve is negatively sloped but the supply curve is positively sloped.
The accompanying graph shows the cost curves for Moe's mushroom gathering business, which is perfectly competitive.
The curve labeled A is upward sloping because:
A. an increase in the demand for mushrooms increases the supply of mushrooms. B. of high fixed costs. C. variable costs increase as output increases. D. of diminishing returns to Moe's variable factors of production.
Which of the following is perhaps the greatest obstacle facing the Fed in discharging monetary policy?
A) the difficulties involved in regulating the complex structure of financial institutions B) the problem of monetary policy lags C) the problem of identifying a monetary measure that is closely linked to real GDP D) the problem of coordinating monetary and fiscal policy