POST ECO202/ ECO202 FINAL EXAM MAY 2015

May 28th, 2016
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Question Question 1 0 out of 2 points Suppose that every customer in a market wants to enjoy the good supplied by the best producer, and the good is produce with technology such that the best producer can supply to every customer at a low cost. This is an example of Answers: the superstar phenomenon. human capital. efficiency wages. signaling. Question 2 0 out of 2 points The larger the number of firms in an oligopoly, the Answers: lower the price and the smaller the output of the industry. higher the price and the greater the output of the industry. lower the price and the greater the output of the industry. higher the price and the smaller the output of the industry. Question 3 2 out of 2 points Signaling in labor markets and advertising are examples where an informed party uses the signal to convince the uninformed party that the informed party is offering something of high quality. Answers: True False Question 4 2 out of 2 points Discrimination in the labor market occurs when employ

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Post eco202 final exam may 2015Report this Question as InappropriateQuestionQuestion 10 out of 2 pointsSuppose that every customer in a market wants to enjoy the good supplied by the best producer,and the good is produce with technology such that the best producer can supply to everycustomer at a low cost. This is an example ofAnswers:the superstar phenomenon.human capital.efficiency wages.signaling.Question 20 out of 2 pointsThe larger the number of firms in an oligopoly, theAnswers:lower the price and the smaller the output of the industry.higher the price and the greater the output of the industry.lower the price and the greater the output of the industry.higher the price and the smaller the output of the industry.Question 32 out of 2 pointsSignaling in labor markets and advertising are examples where an informed party uses the signalto convince the uninformed party that the informed party is offering something of high quality.Answers:TrueFalseQuestion 42 out of 2 pointsDiscrimination in the labor market occurs when employers pay different wages to workers whodiffer only by race, ethnicity, sex, age, or other personal characteristics.Answers:TrueFalseQuestion 52 out of 2 pointsA strategy that is best for a player in a game regardless of the strategies chosen by the otherplayers is called a(n)Answers:game theory strategy.dominant strategy.prisoner's dilemma strategy.oligopoly strategy.Question 62 out of 2 pointsMovies and nov

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