When we speak of capital, we refer primarily to money and financial assets such as bonds and stock.
Answer the following statement true (T) or false (F)
False
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Suppose earnings are given by E = $50 + $20(24 ? L), where E is earnings and L is the hours of leisure. What is the price to the worker of consuming an additional hour of leisure?
A. $24 B. $26 C. $30 D. $20
Occupational licensing:
A. functions essentially the same as inclusive unionism. B. attracts large numbers of workers and therefore depresses wages. C. often restricts occupational entry and raises the incomes of license holders. D. has been declared illegal in the majority of states.
A person maximizes utility when he equalizes the ________ across products.
A. marginal utility B. total utility C. marginal utility per dollar spent D. total utility per dollar spent
A Gini coefficient of ________ means that one family has all the income and everyone else has nothing.
A. 0 B. 1 C. 100 D. infinity