Approximately how much of the income in the United States is earned by workers in the form of wages and fringe benefits?
a. 25 percent
b. 50 percent
c. 67 percent
d. 90 percent
c
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Momentum investing can be described as
A) consistent with the efficient markets hypothesis. B) similar to mean reversion. C) follow the picks of investors who have been successful in the past. D) the trend is your friend.
If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be TRUE at that level of output?
A) p = MC B) MR = MC C) p ? AVC D) All of the above
Suppose that the federal government imposes a price floor (support price) in the milk market at a price of $3 per gallon. If market quantity demanded at $3 is 1 billion gallons, and if market quantity supplied is 1.5 billion gallons, then which of the following is true?
a. There is a surplus of 1 billion gallons of milk, and the federal government will buy 1.5 billion gallons to maintain the $3 price. b. There is a shortage of 500 million gallons of milk, and the federal government will buy 1 billion gallons to maintain the $3 price. c. There is a shortage of 500 million gallons of milk, and the federal government will buy an additional 500 million gallons to maintain the $3 price. d. There is a surplus of 500 million gallons of milk, and the federal government will buy this 500 million gallons to maintain the $3 price.
Refer to the diagram for athletic shoes. If the current output of shoes is Q 1 , then:
A. society would consider additional units of shoes to be more valuable than alternative uses
of those resources.
B. society would consider additional units of shoes to be less valuable than alternative uses of
those resources.
C. society would experience a net loss by producing more shoes.
D. resources are being allocated efficiently to the production of shoes.