In 1972, a very controversial study asserted that income differences among individuals did not depend on genetic differences in reasoning ability, or differences between schools, or family background. Moreover, the effects of level of schooling are much less than previously understood. After controlling for all of these background variables, much of the variation in earnings appeared to be random. From this analysis, one might reach the very controversial conclusion that earnings depended to a very great extent on
A. human capital.
B. ability.
C. schooling.
D. luck.
Answer: D
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"A single-price monopoly charges a higher price and produces more output than a perfectly competitive industry." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
Marginal and average taxes are
A. calculated using the same methodology. B. not used in modern tax analysis. C. not calculated using the same methodology. D. all of these answer options are correct.
Price indexes are necessary for turning a time series measured in real value into nominal value.
Answer the following statement true (T) or false (F)
After the Great Depression, an explanation for why output growth would stop is called:
A. secular stagnation theory. B. the slow growth model. C. the frictional stagnation hypothesis. D. the structural stagnation hypothesis.