Which of the following statements is true?
A) Lower wages are normally offered for jobs with better amenities.
B) Jobs that are relatively risky pay a lower wage than other safer jobs.
C) Educational qualifications and wage rates are negatively correlated.
D) Incentives are normally higher for desirable occupations in comparison to undesirable occupations.
A
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The table below shows how total donations, average donations, total labor costs and average labor costs vary depending on the number of employees State U hires for its fundraising activities.Number ofEmployeesTotal DonationsAverage DonationsTotal Labor CostsAverage Labor Costs1$30,000 $8,0002$42,426 $17,000 3 $17,321$27,000 4$60,000 $9,5005 $13,416$50,000 The President of State U decides to hire fundraising employees as long as their average benefit exceeds their average cost. This results in ________ employees being hired and a net benefit (total donations minus total labor costs) of ________.
A. 4; $22,000 B. 4; $60,000 C. 5; $67,080 D. 5; $17,080
Physical capital differences across countries can be seen in the fact that
A) more advanced economies typically have more sophisticated technology. B) the iPhone's components are produced in 30 countries. C) furniture factories in China use machines like those in North Carolina. D) students in India study the same subjects as those in the United States. E) advanced economies produce 53 percent of the world's income.
According to Keynesian economists, when the price level is constant, a downward shift in the aggregate expenditure curve is associated with
a. a rightward shift (increase) in the aggregate supply curve b. a leftward shift (decrease) in the aggregate supply curve c. a rightward shift (increase) in the aggregate supply curve d. a leftward shift (decrease) in the aggregate supply curve e. change in either the aggregate demand or aggregate supply curves
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y2. C. P3 and Y1. D. P2 and Y3.