If we compare median family income in the U.S. for families headed by an adult with no more than a high school education to that of families headed by an adult with a bachelor's degree, which of the following best describes what we will find?
a. Median family income for families headed by an adult with a bachelor's degree is approximately 70 percent higher than families headed by an adult no more than a high school education.
b. Median family income for families headed by an adult with a bachelor's degree is approximately 25 percent higher than families headed by an adult no more than a high school education.
c. Median family income for families headed by an adult with a bachelor's degree is approximately 50 percent higher than families headed by an adult no more than a high school education.
d. Median family income for families headed by an adult with a bachelor's degree is approximately 90 percent higher than families headed by an adult no more than a high school education.
a
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The information in the table above gives the 2012 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2013 prices. What is the value of the CPI for 2013?
A) 140 B) 133 C) 100 D) 75
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This question has you determine the effect of a tax on labor on the long-run cost function. Consider a firm with the production function f(L,K) = LK. The wage rate and rental rate on capital are w and r, respectively. a
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