Wages in the United States are higher than those in Mexico primarily because
a. output per worker is higher in Mexico than in the United States.
b. output per worker is higher in the United States.
c. the human and physical capital of American workers is lower than that of their Mexican counterparts.
d. all of the above are correct.
B
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Unless a good is a Giffen good, the demand curve shifts to the right as income rises.
Answer the following statement true (T) or false (F)
The redistribution of income creates the big tradeoff, which is a tradeoff between ________
A) income and wealth B) equity and efficiency C) rich and poor D) Supplementary Security Income and the Food Stamp program
A profit maximizing monopoly's price is
A) not consistently related to price that would prevail if the market was perfectly competitive. B) greater than the price that would prevail if the industry was perfectly competitive. C) less than the price that would prevail if the industry was perfectly competitive. D) the same as the price that would prevail if the industry was perfectly competitive.
TANF provides benefits that raise recipients to the poverty line
Indicate whether the statement is true or false