Daryn earns a higher salary than his friend Nick because Daryn is willing to work on the loading dock, whereas Nick prefers to work in an air-conditioned office. The difference in salary could illustrate a compensating differential
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
A high current rate of inflation ________ those who have saved and ________ those who have borrowed
A) harms, helps B) harms, has no effect on C) helps, helps D) helps, has no effect on E) helps, harms
The big current-account deficits in the late 1880s and early 1890s were financed primarily by
(a) Borrowing from other nations, especially England (b) Interests earned on bonds and dividends paid on other investments (c) Taxes (d) Sale of public land
In-kind transfers can be justified over cash transfers on the grounds that _____
a. they give the recipients higher utility b. they have lower administrative costs c. they are more equitable than in-kind transfers d. taxpayers prefer them
Assume that the coefficient of elasticity of product demand is 0.1 in the food and beverages (F&B) industry and is 2.3 in the oil and gas (O&G) industry. Other things equal, labor demand will be
a. relatively inelastic in both F&B, and O&G industries. b. relatively elastic in both F&B and O&G industries. c. more elastic in O&G industry than in F&B. d. more elastic in F&B industry than in O&G.