Which of the following statements are correct about the age-earnings cycle?
A. Since every person is different we can reach no general conclusions about the age-earnings cycle.
B. Earnings increase throughout a prison's lifetime until they reach retirement.
C. Earnings increase with age because workers become more productive as they age until around 50 years. Around 50 the effects of aging outweighs the further increases in productivity.
D. Earnings generally increase up till age 30 and then steadily decrease.
Answer: C
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Which of the following is INCORRECT?
a. Aggregate abatement spending in the U.S. has increased over time b. Across all economic sectors, business spending on abatement in the United States comprises the highest proportion of aggregate abatement spending c. Across major industries, spending on waste treatment outweighs spending on recycling d. The petroleum and coal industry spends less on abatement than any other industry
Regardless of whether a tax is levied on sellers or buyers, taxes discourage market activity
a. True b. False Indicate whether the statement is true or false
Price discrimination is more likely in the case of services than in the case of goods because
A) producers of goods usually do not face downward sloping demand curves. B) it is easier to distinguish customers with different elasticities of demand with respect to services than with goods. C) elasticities of demand vary more with services than with goods. D) it is more difficult to resell services.
Two goods that are complementary are:
a. wrapping paper and scotch tape. b. letter and fax. c. beef and chicken. d. bicycle and motorcycle. e. Coke and Pepsi.