Economics Mcqs

A. marginal revenue, marginal cost
B. long run marginal revenue, long run marginal cost
C. labor output ratio, capital output ratio
D. marginal cost of labor, marginal revenue product

A. Men have more human capital than women
B. Employers in competitive markets are bigots
C. Men have more job experience than women
D. None of the above

A. minimum-wage laws
B. efficiency wages
C. unions
D. beauty

A. Increase labor market discrimination because some workers can charge more for their services than other workers in a competitive market
B. have no impact on labour market discrimination
C. reduce labour market discrimination because non-discrimination firms will employ cheaper labour earn more profits and drive discriminating firms out of the market
D. increase labour market discrimination because bigoted employers can charge any price they want in a competitive market to cover the cost of their discrimination

A. It must be involved in professional athletics
B. Every customer must be indifferent to the price they pay, and the seller must be a competitor in the market for the product
C. Every customer must be willing to pay an enormous amount for the product and the product must be a necessity
D. Every customer must want the good supplied by the best producer and the technology must exist for the best producer to supply every customer at low cost

A. the best professor
B. the best writer
C. All of these answers participate in markets that could generate a superstar
D. The best accountant
E. the best medical doctor

A. Attractive people tend to earn less because attractive people are viewed as shallow and more self-absorbed and therefore, as less productive
B. Attractive people tend to earn more because they may actually have a larger value of marginal product
C. Attractive people tend to earn more because attractive people usually have greater human capital
D. Attractive people tend to earn less because attractive people usually have less human capital

A. unpleasant
B. all these answers
C. safe
D. fun
E. easy

A. can make any worker into a superstar
B. increases human capital and the wages of workers
C. only helps firms sort workers into high ability and low-ability workers
D. reduces the wage gap between high-skill and low-skill workers.

A. has no impact on the human capital of workers?
B. increases human capital and the wages of workers
C. can make any worker into a superstar
D. only helps firms sort workers into high ability and low-ability workers.