A compensating wage differential is
a. the difference between the wage of an individual working in favorable conditions and the wage of an individual working in unfavorable conditions
b. compensation paid to an individual for working in a less desirable environment
c. premium paid to a security holder to compensate him for bearing a higher risk
d. Only A&B
d
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From left to right, the horizontal axis of the Lorenz curve ranks households from
A) smallest to largest. B) largest to smallest. C) poorest to richest. D) richest to poorest.
Which of the following statements about the slave family in the U.S. is most accurate?
a. Slave owners preferred slaves who lived in intact families. b. In most two-parent slave families, the parents lived on different plantations. c. The father was white in about 75 percent of the households headed by single slave mothers. d. About half of children under 15 years of age were sold away from their families.
Which of the following does not characterize a perfectly competitive firm that has shut down in the short run?
a. total revenue equals zero b. variable costs equal zero c. the firm suffers a loss d. fixed cost is positive e. fixed cost is zero
Which of the following would occur if the federal government decided to use a budget surplus to reduce the existing debt?
A. Crowding out and public sector output would decrease. B. Crowding out and public sector output would increase. C. Crowding in and private sector output would increase. D. Crowding in and private sector output would decrease.