Answer the following statements true (T) or false (F)
1. Although the number of jobs requiring computer knowledge has increased, these jobs are found primarily in low-wage industries.
2. Union membership in the United States has fallen to less than 15 percent of the workforce.
3. Household wealth is defined as income minus liabilities.
4. Because their earnings are highest, married couples between the ages of 35–54 hold the largest share of wealth in the United States.
5. Non family households earn less than 50 percent of the income earned by family households.
1. FALSE
2. TRUE
3. FALSE
4. FALSE
5. TRUE
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The takeover process does not use up capital; it merely redistributes it.
Answer the following statement true (T) or false (F)
The government sector sells resource services to households and buys goods and services from firms
a. True b. False Indicate whether the statement is true or false
When quantity supplied increases at every possible price, we know that the supply curve has
a. shifted to the left. b. shifted to the right. c. not shifted; rather, we have moved along the supply curve to a new point on the same curve. d. not shifted; rather, the supply curve has become flatter.
Advertising:
A. is valuable because it provides free information about products and prices to consumers. B. is harmful because it creates a false sense of differentiation, driving prices up unnecessarily. C. Neither A nor B is true. D. Both A and B are true.