Answer the following statements true (T) or false (F)
1. The median income of white households is greater than the median income of all households in the United States.
2. Labor market discrimination on the basis of sex or race is usually person-specific rather than a general labor practice.
3. The fact that women in large numbers choose careers in education and nursing may be the result of occupational segregation.
4. An equitable distribution of income is based on an objective standard, such as the perceived productivity of the individual.
5. The goal of every economic system should be the elimination of income inequality.
1. FALSE
2. FALSE
3. TRUE
4. TRUE
5. FALSE
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If England uses one week’s time to produce 10 yards of cloth or 2 barrels of wine and Portugal uses one week’s time to produce 12 yards of cloth or 6 barrels of wine, then England has a comparative advantage in the production of cloth.
Answer the following statement true (T) or false (F)
:Employed full-time:4,200Employed part-time: 700Not employed and looking for work: 300Not employed and not looking for work: 200
Given the data in Table 12.1, the unemployment rate of Metropolis is approximately:
A. 6 percent. B. 9 percent. C. 12 percent. D. 22 percent.
What is a household's choice set or opportunity set?
What will be an ideal response?
In going from the simple to the flexible accelerator, j is set at ________, and v* is ________
A) one, allowed to vary B) one, set at less than one C) less than one, set at less than one D) less than one, set at one E) less than one, allowed to vary