Over the last 35 years, the wage gap between people of different education levels has ______.
a. widened
b. narrowed
c. disappeared
d. not changed
a. widened
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Curt pays a $200 annual fee at a fitness center rather than paying the $2 charge that it would cost if he paid by the visit. He intends to go 100 times in the year. He claims that the fee will act as a commitment device to help him follow his wish to exercise regularly and the per visit fee would not act as a commitment device. His friend tells him that the cost is $100 either way so his reasoning is false. Do you agree that the annual fee can act as a commitment device for Curt and the per visit fee would not? Explain your answer. Assume a zero interest rate so the timing of payments is not affected by foregone interest.
What will be an ideal response?
Which of the following is purchased in a product market?
A. The skills of an X-ray technician. B. Undeveloped farmland in Texas. C. Cell phone service. D. Crude oil.
The total amount of satisfaction yielded by the consumption of a good or service is called
A. total utility. B. maximized behavior. C. total demand. D. market equilibrium.
The best example of an industrial union is the:
A. United Association of Plumbers and Pipefitters B. International Brotherhood of Electrical Workers C. American Medical Association D. United Auto Workers