In the Santa Rita mines in Arizona in 1870, Mexican miners received about $12 per month while "American" miners received $70 . Although the wages of both groups tended to rise over time, the gap persisted until at least 1910 . Mexican and American miners did the same work and were equally productive. Economists call this pay differential:
a. prejudicial differentials
b. compensating differentials.
c. wage discrimination.
d. job entry discrimination.
c
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In the figure above, suppose the price of a pound of pecans is negatively related to the quantity of peanuts that farmers are willing to supply. If the price of pecans increases
A) the curve will shift rightward. B) the curve will shift leftward. C) there is a movement along the curve. D) the curve will be unaffected.
Economic goods are
A) abundant goods, about which we must constantly make decisions about their best use. B) all imaginable items from which individuals derive satisfaction or happiness. C) goods that are scarce, for which the quantity demanded exceeds the quantity supplied at a zero price. D) goods that are scarce, for which the quantity demanded exceeds the quantity supplied at any price.
In 2012, the number of people living in the world on less than $1.90 a day was:
A. roughly 13% of the world's population. B. just over a quarter of the world's population. C. just over a fifth of the world's population. D. just under 10 percent of the world's population.
The unique feature of a progressive income tax is that the higher one's income (up to some point), the __________ one pays
A) more taxes B) higher the tax rate C) less taxes D) lower the tax rate E) none of the above