Weekly Review Quiz As of 2011-02-10 Economics: Micro

Weekly Review Quiz as of 2011-02-10 Economics: Micro

Verizon to Curb Highest Data Users by Roger Cheng 02/04/2011 http://online.wsj.com/article/SB10001424052748703652104576122030887519022.html

1. Verizon Wireless warned that to solve the dilemma of offering unlimited data while managing the costs associated with carrying that traffic on their networks, the company plans to a) eliminate its unlimited data plans. b) charge users according to usage. * c) throttle its heaviest users. d) permit congestion. e) increase the prices of iPhones.

Nippon Steel, Sumitomo Metal to Merge by Chester Dawson, Robert Guy Matthews and Kuzuhiro Shimamura 02/04/2011 http://online.wsj.com/article/SB10001424052748703652104576121363552630344.html

2. Two Japanese steel manufacturers agreed to merge in a deal that would create the world’s No. 2 steel producer. They are: a) Nippon Steel Corp. and Shougang Company Limited. * b) Nippon Steel Corp. and Sumitomo Metal Industries Ltd. c) Shougang Company Limited and Sumitomo Metal Industries Ltd. d) JFE Holdings, Inc. and Shougang Company Limited. e) JFE Holdings, Inc. and Nippon Steel Crop.

Governors Chop Spending by Conor Dougherty and Amy Merrick 02/07/2011 http://online.wsj.com/article/SB10001424052748703989504576127933353282262.html

3. Governors around the U.S. are proposing to balance their states' budgets with a) cuts to Medicaid and selective tax increases. b) no cuts to programs and selective tax increases. c) long lists of tax increases and no cuts to programs. d) both cuts to programs and new income taxes. * e) a long list of cuts and almost no new taxes. China Move to Strengthen Grip Over Supply of Rare-Earth Metals by James T. Areddy 02/07/2011 http://online.wsj.com/article/SB10001424052748704124504576117511251161274.html

4. China is building strategic reserves in rare-earth metals, an effort that could give Beijing increased power to influence global prices and supplies in a sector it already controls more than 90% of current global supply of rare-earth metals—a group usually classified as 17 elements and sometimes are called "21st Century gold" for their importance in the high-tech application of a) laser-guided weapons. b) hybrid-car batteries. c) cellphones. * d) all of the above. e) none of the above.

Pay Gap Widens at Big Law Firms as Partners Chase Star Attorneys by Nathan Koppel and Vanessa O'Connell 02/08/2011 http://online.wsj.com/article/SB10001424052748704570104576124232780067002.html

5. At the nation’s largest law firms, a) partner compensation has decreased compared to 10 years ago while the partner compensation gaps have increased. b) partner compensation has increased compared to 10 years ago while the partner compensation gaps have decreased. * c) partner compensation has increased compared to 10 years ago and the partner compensation gaps have increased as well. d) partner compensation has remained steady over the past 10 years while the partner compensation gaps have been increasing. e) partner compensation has remained steady over the past 10 years while the partner compensation gaps have been decreasing.