The "beauty premium" can be explained by the fact that
a. marginal productivity in all occupations has a physical dimension.
b. in some occupations, physical attractiveness of workers may enhance the value of their marginal product.
c. beauty acts as an implicit signal of innate intelligence.
d. beautiful people are likely to reflect "good breeding."
b
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The price level in the economy between 2014 and 2015 rose from 100 to 105. Between 2015 and 2016, the price level rose from 105 to 110.25. How does the short-run Phillips curve predict the unemployment rate will change as a result?
A) The unemployment rate will increase since inflation increased. B) The unemployment rate will decrease since inflation increased. C) The unemployment rate will decrease since inflation decreased. D) The unemployment rate would not change since there is no change in the rate of inflation.
One of the chief advantages of exchange rate pegging is that ________
A) a country is able to pursue an independent monetary policy over the course of the business cycle B) it can be an effective means of reducing inflation C) the currency can be used to promote export growth D) it allows the monetary authorities to actively respond to the problems of inflation and unemployment