Wage rates may vary among labor markets for each of the following reasons, except one. Which is the exception?
a. differences in job risks
b. differences in social status associated with the job
c. differences in market size
d. differences in educational requirements
e. differences in job training requirements
C
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For superstar athletes
A) their entire earnings are economic rent. B) part of their earnings are economic rent. C) none of their earnings are economic rent since rent doesn't apply to labor. D) none of their earnings are economic rent since they will do some other work once they are too old to be an athlete.
If Country A exports a good to Country B, the prices of the good in Country A will ______ and the prices of the good in Country B will ________
a. increase; increase b. decrease; decrease c. increase; decrease d. decrease; increase e. stay the same; increase
Profits will be maximized when the slope of the total revenue curve and the slope of the total cost curve equal zero
a. True b. False Indicate whether the statement is true or false
The quantity demanded of money is
A) inversely related to the interest rate. B) directly related to the interest rate. C) inversely related to the general price level. D) inversely related to GDP. E) a, c, and d