In the United States the real wages of the least-skilled, least educated workers have ________ and the wages of best-educated, highest skilled workers have ________.
A. increased; increased
B. declined; remained constant
C. increased; declined
D. declined; increased
Answer: D
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Workers earn less than half of the income generated by the production process.
Answer the following statement true (T) or false (F)
Refer to Scenario 14-2. As a result of Kristy's deposit, Bank A can make a maximum loan of
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
If tofu is a normal good, an increase in income will:
a. cause tofu to sell at a lower price. b. increase the production of tofu. c. shift the demand curve for tofu to the left. d. shift the demand curve for tofu to the right. e. rotate the supply curve in a clockwise manner.
A market which only allows only one firm to operate at lowest average cost is called a(n)
a. natural monopoly. b. scale industry. c. increasing returns industry. d. large scale industry.