Maverick Brown and Mark Williams graduated from the same business school before being recruited by a reputable multinational company. However, within a year, the company promoted Maverick to the senior management level and paid him a higher salary than Mark. Which of the following factors can explain this pay differential?
a. Nature of the job
b. Marginal productivity
c. Age
d. Work experience
b
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Which of the following is NOT a direct determining factor of consumers' purchase decisions?
A) Consumers' tastes and preferences B) Market price of the finished goods C) Cost of factor inputs D) Consumers' income
The term human capital refers to
A) labor resources used to make capital equipment. B) buildings and machinery. C) people's knowledge and skill. D) entrepreneurship and risk-taking.
With respect to market and nonmarket production, on average working women are ________ diversified than men and receive ________ pay as a result
A) less; lower B) less; higher C) more; lower D) more; higher
In the classical theory of employment, a decline in the rate of interest will
A. decrease saving and investment. B. decrease saving and increase investment. C. increase saving and decrease investment. D. increase saving and investment.