The gender wage gap in Japan is smaller than in the U.S.; in Scandinavia it is wider. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
Which of the following is true for a competitive buyer? A) AE = ME B) AE > ME C) AE < ME D) AE greater than or equal to ME ANSWER A
Date: September 9th, 2020
All welfare programs are means-tested income transfers. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
Suppose a government sets theprice for a natural monopoly at the competitive level such that P = MC. To keep the seller from taking a loss under this policy, the government could provide a lump-sum payment to the firm. How could we determine this payment? A) Multiply the competitive quantity by the competitive marginal cost […]
Date: September 9th, 2020
Interest rates are determined by the supply and demand for A) money. B) capital goods. C) loanable funds. D) foreign currencies. E) stocks. ANSWER C
Date: September 9th, 2020
An auction in which a seller begins by offering an item for sale at a relatively high price and then reduces the price by fixed amounts until receiving a bid is known as a: A) Dutch auction. B) English auction. C) second-price auction. D) sealed-bid auction. ANSWER A
Date: September 9th, 2020
For a monopsony buyer, the marginal expenditure per unit of an input A) exceeds the average expenditure per unit. B) is less than the average expenditure per unit. C) equals the average expenditure per unit. D) any of the above could be true. ANSWER A
Date: September 9th, 2020
Assume that you own an exhaustible resource that is sold competitively. The price of the resource is: Pt + 1 – C = 1.08(Pt – C), where t = 0 at the beginning of 2005, P = price in dollars per ton, and C = marginal cost of extraction (fixed over time). It is also […]
Date: September 9th, 2020
The demand for loanable funds slopes A) downward because NPV falls as interest rates fall. B) downward because NPV falls as interest rates rise. C) downward because NPV falls as money enters the economy. D) upward because at higher interest rates people are more willing to save. E) upward because at higher interest rates the […]
Date: September 9th, 2020
The poverty rate for the elderly has declined noticeably since the mid 1960s. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
