Economic theory predicts a close relationship between productivity and real wages. Does history confirm this relationship?
Yes. Data from 1959-2012 serve as an example.
Economics
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The figure above shows the market for coffee. If the efficient quantity of coffee is produced, the producer surplus is
A) $10 million. B) $20 million. C) $60 million. D) zero.
Economics
What are the shapes of the AVC curve and the ATC curve and why do they have these shapes?
What will be an ideal response?
Economics
A perfectly elastic supply curve is: a. upward sloping to the right
b. downward sloping to the left. c. horizontal. d. vertical.
Economics
Which of the following factors has contributed significantly to more international trade since the Second World War?
A. An increase in the size of government B. An expansion of environmental laws C. An increase in military spending D. A general decline in tariffs
Economics