If sales in an industry decline,
a. demand for additional labor also declines.
b. demand for additional labor increases.
c. demand for additional labor stays the same.
d. the unemployment rate definitely falls.
a. demand for additional labor also declines.
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Households receive transfers from ________, and firms receive transfers from ________
A) firms; households B) government; government and households C) government; no one D) firms and government; government E) government; government
Other things remaining the same, ________ in U.S. real GDP results in ________ in U.S. imports
A) an increase; a decrease followed by no change B) an increase; an increase C) a decrease; an increase D) a decrease; no change E) an increase; a decrease
Alex, Bill, and Cid live in Souland. Their annual incomes and the amounts they pay in income tax are shown in the table below. Income Tax Alex 30,000 6,000 Bill 20,000 4,000 Cid 40,000 8,000 The income tax in Souland is
A) proportional. B) disproportional. C) regressive. D) progressive.
If we compare the trend in median wage for people with no more than a high-school education to that of people with a bachelor's degree, which of the following best describes median wage trend in the U.S?
a. The median inflation-adjusted wages for people with only a high school education have declined by about 6 percent since 1980, while the median wage of college graduates has risen by 12 percent in the same time period. b. The median inflation-adjusted wages for college graduates has declined by approximately 25 percent since 1980, while the median wage for people with only a high-school education has remained constant. c. The median inflation-adjusted wages for college graduates has increased by approximately 150 percent since 1980, while the median wage for people with only a high-school education has increased by only 31 percent. d. The median inflation-adjusted wages for college graduates has remained constant since 1980, while the median wage for people with only a high-school education has increased by 150 percent.