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1) Which of the following factors does not affect the value of a worker's marginal
product?
a.discrimination against a particular group of workers by a firm's customers
b.a worker's level of disposable income
c.a worker's level of human capital
d.compensating wage differentials
2) Perry's Production Possibilities FrontierJordan's Production Possibilities
Frontier
c.worse off if Honduras doesn't give in to the threat.
d.worse off no matter how Honduras responds.
8) Air-traffic controllers get paid high wages given their level of education. They also
get frequent breaks and may only work a few days a week. Which of the following
could explain their high wage?
a.the long breaks and limited work days
b.the stress they face
c.the comparatively low level of education required
d.All of the above are correct.
9) The deadweight loss associated with a monopoly occurs because the monopolist
a.maximizes profits.
b.produces an output level less than the socially optimal level.
c.produces an output level greater than the socially optimal level.
d.equates marginal revenue with marginal cost.
10) Which of the following events can not cause the labor-supply curve to shift?
a.a change in people's attitudes toward work
b.an increase in the price of output
c.a change in workers' alternative opportunities
d.an increase in the rate of immigration
11) Table 12-9
United States Income Tax Rates for a Single Individual, 2012 and 2013.
Samantha is a single person whose taxable income is $100,000 a year. What is her
average tax rate in 2013?
a. 24.1%
b. 26.4%
c. 27.8%
d. 30.9%
12) Resources devoted to complying with the tax laws are a type of deadweight loss.
a.True
b.False
13) Figure 16-2. The figure is drawn for a monopolistically competitive firm.
If the average variable cost is $26 at the profitmaximizing quantity, and if the firm's
profit is $40 at that quantity, then its fixed costs amount to
a. $12.
b. $152.
c. $200.
d. $240.
