Which of the following explains the "beauty premium" differences in wages?
a. People who spend time on their personal appearance may send a signal that they are more productive workers.
b. Personal appearance and intelligence are inversely related.
c. The "superstar phenomenon" explains the "beauty premium.".
d. Better-looking people are more efficient; thus, they are paid an efficiency wage.
a
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If the government could raise taxes on one good, which product should the government increase tax rates in order to raise tax revenue?
a. Cigarettes b. Alcohol c. Sodas d. None of the above
If a nation's production possibilities curve is a straight line
a. the law of increasing costs does not apply b. the law of increasing costs applies c. there are no gains from trading with other nations d. the gains from trading with other nations are captured by the other nations e. the gains from trading with other nations are captured by the nation