In colonial America, the average wage laborer
(a) received health care benefits, over-time pay and injury compensation. They also
worked in safe and healthy environments.
(b) achieved a standard of living significantly higher than those standards realized
throughout the world.
(c) possessed few labor rights, privileges and protections, while being denied the
right to vote or organize.
(d) had a higher standard of living than workers in Europe but lower health standards
because of the rural, isolated conditions of colonial living.
(c)
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The basic proposition in international trade is that
A) trade is determined by absolute advantage. B) in the long run, imports are paid for by exports. C) everyone is made better off by free trade. D) fair trade is more important than free trade.
According to neuroeconomists, our logical brain knows we should spend as much as possible when we have money
a. True b. False Indicate whether the statement is true or false
Because business firms often finance new investments with borrowed money, a key determinant of investment spending is
a. tax rates. b. the price level. c. the rate of inflation. d. the real interest rate.
A firm's revenue from selling its product minus the cost of inputs purchased from other firms is called:
A. production costs. B. profits. C. investment. D. value added.