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Question
What theory would suggest that a Nobel Prizewinning economist should earn significantly more than other economists?
a. samaritans dilemma
b. life-cycle wage pattern
c. efficiency wage
d. compensating differential
e. winner-take-all
Answer
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Related questions
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Price gouging laws will usually result in ________ the product in the distressed market.
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c. government setting up an agency to regulate supply of
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The economic entity most likely to engage in price gouging is
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What will an individual do differently as a buyer in the black market in the long run?
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Q:
What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
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d. A shortage will continue to exist and will grow smaller over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
a. Prices in the legal market in the community with a binding price ceiling will rise.
b. Prices in the legal market in the community with a binding price ceiling will fall.
c. There will be shortages in the community with a binding price ceiling.
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Q:
Why would a politician find it difficult to remove a binding price ceiling?
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Q:
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