Incomes for adults vary widely across race and gender in the United States. These differences could be due to:
A. education.
B. experience.
C. choice of occupation.
D. All of these can explain the differences.
D. All of these can explain the differences.
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Start-up costs:
A. have no impact on the number of firms in an industry because they are sunk costs. B. are the one-time costs incurred when beginning the production of a new product. C. are inversely related to variable costs. D. are always greater than marginal costs.
The opportunity cost of going to movies is the price of entry into the movies
a. True b. False Indicate whether the statement is true or false
What defines a monopsony?
a. quantity of labor b. wage equilibrium c. minimum wage d. number of buyers
China is regarded as one of the emerging nations because
A. China has experienced high population growth. B. per capita real GDP is now higher in China than in the United States. C. economic and political freedoms in China are still limited. D. China has experienced high economic growth.