If you believe that all workers should be paid the same, you believe in the
A. benefits standard.
B. productivity standard.
C. comparative worth principle.
D. egalitarian principle.
Answer: D
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Studies of PPP covering many years will be more likely to yield evidence of PPP than studies based on short-run data
Indicate whether the statement is true or false
A graph’s origin is the point of intersection of all lines or curves in the graph.
Answer the following statement true (T) or false (F)
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
According to the matrix shown, the firms:
A. both have a dominant strategy. B. both have an incentive to compete. C. both have an incentive to renege on collusion. D. All of these statements are true.
If an economy is operating efficiently and with full employment, the production of more of one commodity will necessarily lead to less of something else being produced because of:
A) the unlimited wants of people. B) perfectly adaptability of resources in the production of various goods. C) scarcity. D) the lack of money capital.