Positions that involve a considerable amount of personal risk
a. typically have negative compensating wage differentials
b. usually have better fringe benefits for employees
c. have higher demand by firms
d. pay lower wages
e. typically have positive compensating wage differentials
E
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What does it mean when a country’s exchange rate weakens?
a. Its currency appreciates. b. Its currency gains in value. c. Its currency falls in value. d. Its currency buys more imports.
As per capita GDP has risen in the United States and other countries,
a. life expectancy and leisure time have also risen and infant mortality and illiteracy have gone down.. b. life expectancy has risen but leisure time has gone down, while infant mortality and illiteracy have remained the same. c. various quality of life variables have been unaffected. d. most quality of life variables such as life expectancy and expenditures on leisure time activities have fallen.
The change in total revenue due to one unit change in labor usage is called marginal revenue
Indicate whether the statement is true or false
Gloria works for a museum in a large city with many other museums. Her boss proposes that the museum should raise the price of admission to increase revenues. Gloria was a good student in her economics principles course. How should she advise her boss?
What will be an ideal response?