What is the least accurate description of movements in real wages between 1800-1860?
a. U.S. wages grew relative to those of England.
b. The wages of females increased relative to those of males.
c. The wages of skilled laborers increased faster than those of unskilled laborers.
d. The U.S. became more unequal in terms of income.
a. U.S. wages grew relative to those of England.
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Suppose Bev's Bags makes large handbags and small handbags. They sold 70,000 large bags for $45 each and 25,000 small bags for $15 each. If the company had total costs of $2,000,000, what was the profit for this company?
A. $1,525,000 B. $3,525,000 C. $375,000 D. $850,000
If the demand curve shifts but the supply curve does not and price remains the same, supply must be perfectly inelastic
a. True b. False
Often, improvements in technology can:
A. continuously increase the productivity of workers. B. lead to more improvements in technology. C. lead to sustainable rates of growth in income for a country. D. All of these are true.
What is the relevance of productive and vocative efficiency to the growth process?
What will be an ideal response?