Two workers are employed in the same job by the same firm; however, they are paid different wage rates. This could be explained by differences in
a. the income effect
b. the price of the firm's output
c. their marginal products due to differences in ability
d. working conditions
e. risk
C
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Which curve intersects the AVC curve at its minimum point?
A) the MC curve B) the ATC curve C) the AFC curve D) the MP curve
Why might monetary policy authorities be concerned when non-bank financial intermediaries account for a growing share of an economy's financial assets?
A) Monetary policy authorities fear that this situation might erode the value of the U.S. dollar in foreign exchange markets. B) Monetary policy authorities are concerned that this situation might promote income inequality since high income individuals are more likely to use the services of non-bank financial intermediaries, compared to low-income individuals. C) Monetary policy authorities fear that this situation might lessen their ability to control money supply because non-bank financial intermediaries are not as heavily regulated as banks D) It will be more difficult for monetary policy authorities to monitor those assets that are most closely related to the level of economic activity.