College graduates earn much more than grade school dropouts mainly because
A. the college graduate is older.
B. the college graduate has learned more.
C. the college graduate is probably smarter, richer, more motivated, has better connections, and comes from a more supportive learning environment.
D. the college graduate is more likely to have grown up in a large city, and to be more cosmopolitan.
C. the college graduate is probably smarter, richer, more motivated, has better connections, and comes from a more supportive learning environment.
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When the average tax rate rises as income rises, this is known as progressive taxation.
Answer the following statement true (T) or false (F)
In a bilateral monopoly with one buyer and one seller, the monopoly power of the seller and the monopsony power of the buyer tend to:
A) reinforce one another. B) counter-act one another. C) favor the buyer. D) favor the seller.
Another way to think of the marginal seller is the seller who
a. will accept the lowest price of any seller in the market. b. requires the highest price of any potential seller in the market. c. would leave the market first if the price were any lower. d. would leave the market last if the price falls.
If investment is less than depreciation, then the capital stock:
A) decreases. B) remains constant. C) increases. D) changes indeterminately.