Wage differentials exist in the long run because
a. labor markets are perfectly competitive
b. all jobs are equally attractive to all workers
c. the prices of goods vary by market
d. there are too many workers in the labor force
e. not all workers are equally qualified to perform every job
E
You might also like to view...
Use the data in the table below to answer the next question. The data describes a hypothetical economy and are denominated in billions of dollars.Disposable income$200Net private domestic investment40Value of imports15National income300Personal taxes31Net exports9Gross private domestic investment55Net foreign factor income10Statistical discrepancy0This nation's exports are ________.
A. $16 billion B. $24 billion C. $9 billion D. $28 billion
Define asset market equilibrium and state the asset market equilibrium condition
What will be an ideal response?
What was the original intent of the Federal Reserve Act of 1913?
What will be an ideal response?
A depression is a:
A. recession that lasts more than four quarters. B. severe and extended period of recession. C. recession that lasts more than eight quarters. D. recession that lasts more than three quarters.