Economists who have studied the composition of "proprietor's income" have found that this income item is made up of:
A. Wages and profits, mostly wages
B. Interest and profits, mostly profits
C. Rent and interest, mostly interest
D. Wages and interest, mostly wages
A. Wages and profits, mostly wages
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In the 2008-09 recession, the percentage of part-time workers due to economic reasons
A) rose to almost 18 percent. B) did not include teenagers. C) equalled the unemployment rate for those who are part-time workers due to non-economic reasons. D) decreased slightly over the period. E) doubled from 3 percent to 6 percent.
A patent
A) always gives rise to a monopoly. B) may not provide a barrier to entry. C) allows the patent owner to capture all of the consumer surplus. D) increases total welfare.
Featherbedding refers to union efforts to force employers to hire more workers than demanded at a particular wage
a. True b. False
Technology firms are clustered near each other ______.
a. because federal regulation require them to do so b. to contain negative externalities in one area c. to be close to deposits of natural resources d. in order to share technology and collaborate