Economic profit is
A. TVC -TFC.
B. TR -TFC.
C. TR -TVC.
D. TR -TC.
Answer: D
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Which statement is false?
A. Before the Civil War about three quarters of the farms of over 500 acres were located in the South. B. The great abundance of land was the most influential factor in the United States' economic development during the 19th century. C. Although the percentage of Americans living on farms has declined substantially over the last 70 years, the actual number of people living on farms has remained constant. D. None of the statements are false.
Lee earns more than does Pat. Which of the following can explain why?
A) Pat is discriminated against. B) Lee has more human capital. C) Lee has a greater degree of specialization in earning an income. D) All of the above could be a factor leading to the wage difference.
According to the BLS approximately 8.4 million workers are union members in the private sector and about 7.3 million workers are union members in the public sector.
a. true b. false
Poverty rated tend to be higher than average for:
a. those 65 years or older b. those under 18 years c. both of the above d. neither of the above