Wage discrimination means workers with equal productivity are paid unequal wages, or workers with unequal productivity are paid equal wages
a. True
b. False
Indicate whether the statement is true or false
True
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An economy that trades with the rest of the world is a(n) ________.
A. command economy B. closed economy C. open economy D. trade economy
The First World is made up of communist nations
a. True b. False Indicate whether the statement is true or false
The law of demand is derived under the assumption of
A) constant prices. B) constant real incomes. C) constant consumer tastes and preferences. D) constant marginal utility.
The standard of living in a nation depends on
A. how well the economy functions within that country. B. whether or not its currency is adopted as the world's monetary standard. C. how well its economy functions relative to other countries. D. the size of the country, with larger nations always doing better than smaller ones.