The labor movement has been largely an economic movement, not a political phenomenon
Indicate whether the statement is true or false
False
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The assumption of diminishing marginal rate of substitution means that
A) the budget line has a negative slope. B) the budget line does not shift when people's preferences change. C) indifference curves might have a positive slope. D) indifference curves will be concave.
Spending time and money on education are costs of investing in human capital
Indicate whether the statement is true or false
In contrast to the United States, the European Union has chosen
a. greater wage inequality for lower unemployment. b. less wage inequality and lower unemployment. c. greater wage inequality and higher unemployment. d. similar wage inequality but more unemployment. e. less wage inequality for higher unemployment.
The following data show the relationship between total cost and output in the short run. OutputTotal Cost0$518212315420527The firm's marginal cost is equal to average total cost somewhere between units
A. 3 and 4. B. 1 and 2. C. 4 and 5. D. 2 and 3.