Suppose the majority of students who are graduating in May from a large university have found jobs and signed employment contracts by February. Starting in February, these students are likely to __________ spending and __________ saving.
Fill in the blank(s) with correct word
Answer: increase; decrease
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The value of a producer's output minus the value of the inputs it purchases from other producers is called the producer's
A) surplus. B) profit. C) value added. D) gross product.
A Pareto improvement is any action that makes everyone better off
a. True b. False
When employment discrimination results from the personal prejudices of employers, economic theory suggests that
a. it is costless for employers to discriminate against groups they do not like. b. discrimination by an employer will reduce production costs since the employer can pay lower wages. c. the wages of employees who are discriminated against will actually rise. d. an employer who discriminates will experience higher costs.
National income
A. will always equal personal income. B. is always less than personal income. C. is always greater than personal income. D. may be greater than or less than personal income.