A marginal change is a small incremental adjustment to an existing plan of action

The bowed out (concave) shape of the production possibilities curve implies that as production of one good

A) increases, society must forgo increasing amounts of another good. B) increases, production of other goods increases as well. C) decreases, production of other goods decreases as well. D) increases, society must forgo decreasing amounts of another good. E) increases, society can obtain a free lunch.

Which of the following is a reason why it is difficult to estimate the extent of economic discrimination in the labor market?

A) Differences in wages can be attributed to many other factors as well, such as differences in productivity and preferences. B) Ultimately, employers who discriminate cannot remain profitable. C) Employers who discriminate pay an economic penalty. D) Employers who discriminate are likely to do so in overt ways such as awarding some workers with benefits-in-kind.