Evidence from a study of the market for baseball players using 1960s data
a. indicated that sports with strong player associations are unlikely to experience wage discrimination.
b. suggested that government regulation had eliminated most evidence of wage discrimination.
c. found some evidence of consumer-driven wage discrimination.
d. found that measurement of marginal productivity was very difficult for baseball players.
c
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In the aggregate demand/aggregate supply model, a country's full-employment real GDP is represented by:
a. prices. b. aggregate demand. c. aggregate supply. d. an increase in the general level of prices.
A perfectly competitive industry's short-run supply curve is best described as
A) the upward sloping portion of the industry's marginal cost curve. B) horizontal. C) perfectly inelastic. D) the horizontal summation of the individual firms' supply curves.