Lee earns more than does Pat. Which of the following can explain why?
A) Pat is discriminated against.
B) Lee has more human capital.
C) Lee has a greater degree of specialization in earning an income.
D) All of the above could be a factor leading to the wage difference.
D
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Under the Employment Act of 1946, what action did the federal government take for the first time in U.S. history?
(a) Assuming power and responsibility for managing the world economy (b) Assuming power and responsibility for managing the U.S. economy (c) Relinquishing all influence for managing the U.S. economy to state governments (d) Relinquishing all influence for managing the U.S. economy to the private sector
The Federal Reserve System acts as the government's fiscal agent by
A) auditing taxpayers. B) providing checking account services for the government. C) preparing the budget the President presents to Congress every year. D) determining how to finance a deficit.
Figure 11-8
Consider the average cost curve shown in Figure 11-8, for the production of cleaning. If the firm serves the entire market and sells Q1 units. Based upon this information, the firm is experiencing
A. constant returns to scale . B. increasing returns to scale. C. decreasing returns to scale. D. externalities.
Which of the following characteristics differentiates a monopoly from a perfectly competitive firm?
a. The demand curve for a perfectly competitive firm is a downward-sloping line, while the demand curve for a monopoly is a horizontal line. b. The demand curve for a perfectly competitive firm is a horizontal line, while the demand curve for a monopoly is a downward-sloping line. c. The demand curve for a perfectly competitive firm is a horizontal line, while the demand curve for a monopoly is a vertical line. d. The demand curve for a perfectly competitive firm is a downward-sloping line, while the demand curve for a monopoly is a vertical line.