Which of the following statements accurately characterizes pre-1820 wages?
a. Skilled workers in England received higher wages than U.S. skilled workers.
b. The wage premiums paid to skilled workers in the U.S. were typically greater than those paid in England.
c. Early immigration of primarily skilled workers tended to reduce the wages of skilled labor in the U.S.
d. The pull on unskilled labor to enter agricultural pursuits led to lower wages for unskilled workers in the manufacturing sector.
c. Early immigration of primarily skilled workers tended to reduce the wages of skilled labor in the U.S.
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Refer to the table below. Based on their comparative advantages, Pat should specialize in ________, and Corey should specialize in ________. Pizzas MadePer HourPizzasDeliveredPer HourCorey126Pat1015
A. both making pizza and delivering pizza; neither making pizza nor delivering pizza B. making pizza; delivering pizza C. neither making pizza nor delivering pizza; both making pizza and delivering pizza D. delivering pizza; making pizza
If the income elasticity of demand for a Miami Dolphins season ticket is 2.34, then are Dolphins season tickets a normal or an inferior good?
What will be an ideal response?
The interest payment on a bond is called
A) the coupon payment. B) the face value. C) principal. D) the interest rate.
In the Malthusian model of economic growth, an increase in the quantity of land
A) increases steady state per capita consumption, and increases the steady state population. B) has no effect on steady state per capita consumption or on steady state population. C) has no effect on steady state per capita consumption, and increases the steady state population. D) increases per capita consumption, and reduces the steady state population.