Comparable worth is the principle that:
A. goods and services priced the same have about the same worth.
B. the wage rate equals the value of productivity.
C. men and women should be paid comparably.
D. employees who perform comparable jobs should be paid the same wage.
Answer: D
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Using the table above, the working-age population is
A) 155 million. B) 170 million. C) 195 million. D) 250 million. E) 220 million.
When a government imposes price controls, the result is that
A) the rationing function of prices is not allowed to function freely. B) the price system operates more efficiently. C) all trades are as mutually beneficial to each party as possible. D) scarcity usually disappears.
With respect to the average cost curves, the marginal cost curve
a. intersects average total cost, average fixed cost, and average variable cost at their minimum points. b. intersects average total cost, average fixed cost, and average variable cost at their maximum points. c. intersects both average total cost and average variable cost at their minimum points. d. intersects average total cost where it is increasing and average variable cost where it is decreasing. e. intersects only average total cost at its minimum point.
If marijuana were legalized, it is likely that there would be an increase in the supply of marijuana. Advocates of marijuana legalization argue that this would significantly reduce the amount of revenue going to the criminal organizations that currently supply marijuana. These advocates believe that the
a. supply for marijuana is elastic. b. demand for marijuana is elastic. c. supply for marijuana is inelastic. d. demand for marijuana is inelastic.