In many cities, garbage collectors earn more than social workers. What could explain this wage differential?
a. Social work provides more nonmonetary rewards than garbage collecting does.
b. There is a greater demand for social workers.
c. There is a greater supply of trash collectors.
d. Collecting garbage requires less skill.
e. Social work is a less prestigious profession.
A
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Referring to Figure 19.2, the effect of a decrease in U.S. prices is represented by a movement from point
A) a to d. B) d to a. C) b to c. D) a to b.
Refer to the following graphs. If aggregate expenditures is equal to consumption plus investment expenditures then the equilibrium level of real income will exist at
a. Y1.
b. Y2.
c. Y3.
d. Y4.
The presence of large sunk costs often serves as a naturally imposed barrier to entry
a. True b. False Indicate whether the statement is true or false
Payments to individuals for which no current goods or services are exchanged are known as
A. AD shortfalls. B. AD excesses. C. Income transfers. D. Social Security payroll taxes.