Consider the accompanying payoff matrix.
If Column Cruises offers reduced rates, and Row Resorts keeps its rates high, then Row Resorts will earn ________, and Column Cruises will earn ________.
A. 300; 300
B. 500; 10
C. 50; 50
D. 10; 500
Answer: D
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A worker's accumulated investment in education, training, experience, and health is called:
a. derived labor demand. b. collective entrepreneurship. c. seniority. d. human capital.
Two jobs have different training requirements, and the job that requires more extensive training currently pays $20 more per hour. The jobs are equivalent in all other respects. If labor is migrating from the job with lower training requirements to the job with greater training requirements, then
a. the equilibrium compensating wage differential is more than $20 per hour b. the equilibrium compensating wage differential equals $20 per hour c. the wage rate will drop for the job with lower training requirements d. the wage rate will drop for the job with greater training requirements e. labor supply will increase for the job with lower training requirements
Classical macroeconomists assert that "saving" is the same as "not spending at all"
Indicate whether the statement is true or false
The poverty rate has hovered between ________ since the middle 1960s.
A. 16-20% B. 20-25% C. 5-10% D. 11-15%