In country X, the average yearly salary of 50-year-olds with 16 years of education is $50,275, while the average yearly salary of 50-year-olds with 12 years of education is $36,265
According to this data, four additional years of education are likely to be correlated with higher future wages of about: A) 24 percent.
B) 38 percent.
C) 50 percent.
D) 88 percent.
B
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An increase in a country's capital stock relative to its work force is known as
A) capital improvement. B) capital augmentation. C) capital growth. D) capital deepening.
The face value of money or income is called its ________ value
A) external B) real C) marginal D) nominal
What is the meaning of perfectly inelastic demand and perfectly elastic demand? How would each be graphed?
Please provide the best answer for the statement.
Generally, if a nation produces more consumer goods than capital goods
A) more of all goods may be produced in the future. B) less of all goods may be produced in the future. C) about the same amount of capital goods may be produced in the future as are being produced today. D) society will have to forego future consumption of capital goods.