In a market economy, the money incomes of individuals depend primarily upon:
A. government policies in setting wages and interest rates.
B. the amount of college education the individuals have.
C. the value and amounts of the productive resources the individuals possess.
D. who you know and how well you know them.
Answer: C
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Part-time workers are defined as people who are working
A) less than 20 hours per week. B) between 20 and 35 hours per week. C) less than 35 hours per week. D) more than 10 hours per week. E) fewer hours than they would want.
Refer to the scenario above. What is Wendy's opportunity cost of producing one greeting card?
A) 0.25 earrings B) 0.5 earrings C) 1 earring D) 2 earrings
Evidence shows that children from poor communities typically have:
A. increased opportunities to acquire human capital. B. reduced opportunities to acquire human capital. C. equal opportunities to acquire human capital, but choose not to acquire as much on average than others. D. equal opportunities to acquire human capital, and choose to acquire more on average than others.
The median-voter theorem can help explain one reason why politicians tend to change their position on a given issue over the course of an election from:
A. extreme to moderate. B. moderate to extreme. C. extreme to more extreme. D. one extreme to the other.