Which of the following statements is correct?
a. Compensating wage differentials reflect different skills of workers.
b. Discrimination by employers affects the marginal productivity of workers.
c. The signaling theory of education suggests that schooling does not affect worker productivity.
d. The superstar phenomenon explains why more talented entertainers earn more than less talented entertainers.
c
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If the liquidity effect is smaller than the other effects, and the adjustment to expected inflation is immediate, then the
A) interest rate will fall. B) interest rate will rise. C) interest rate will fall immediately below the initial level when the money supply grows. D) interest rate will rise immediately above the initial level when the money supply grows.
Refer to the figure. Which of the following is true?
A. At a price of $8, there would be excess demand for pizza. B. At a price of $5, there would be neither excess demand for nor excess supply of pizza. C. At a price of $10, there would be neither excess demand for nor excess supply of pizza. D. At a price of $0.50, there would be excess supply of pizza.