Which of the following does not explain the "beauty premium" differences in wages?
a. Better-looking people are preferred by customers; thus, employers will pay them higher wages than average-looking people.
b. Beauty may be an indirect measure of other abilities that employers value.
c. Average-looking people are preferred by customers; thus, employers will pay them higher wages than better-looking people.
d. Employers discriminate in favor of better-looking people.
c
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When the Fed raises the federal funds rate, the exchange rate ________ and net exports ________
A) increases; decreases B) does not change; decreases C) does not change; does not change D) decreases; decreases E) increases; increases
Which of the following statements applies to a single-price monopolist?
A) In order to maximize profits, the monopolist will produce an amount of output that lies in the elastic range of its demand. B) In order to maximize profits, the monopolist will produce an amount of output that lies in the inelastic range of its demand. C) In order to maximize profits, the monopolist will produce where its demand is unit elastic. D) In order to maximize profits, the monopolist will produce an amount of output in the inelastic range of its supply.
The median voter is:
A. the voter who has the median income policy among all voters. B. the voter who has the median policy among all voters. C. the voter who has the average policy among all voters. D. the voter who has the mean policy among all voters.
Which of the following would tend to increase the natural unemployment rate?
a. The creation of national unemployment offices to increase the information about job openings b. Recessionary downturns in the economy that result in massive layoffs of auto workers c. Sociological changes that encourage people to seek employment d. The creation of government subsidies for workers who relocate into areas where new jobs can be found e. Less government money made available as unemployment compensation