In recent years, the ratio of earnings of the typical U.S. college graduate to the earnings of the typical high school graduate without additional education has
a. risen as the demand for skilled labor has increased relative to the demand for unskilled labor.
b. risen as the demand for skilled labor has decreased relative to the demand for unskilled labor.
c. fallen as the demand for skilled labor has increased relative to the demand for unskilled labor.
d. fallen as the demand for skilled labor has decreased relative to the demand for unskilled labor.
A
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Refer to Figure 4.2. The dominant strategy for Cameron is to
A) go to the movie theater. B) go to the bowling alley. C) go to either the movie theater or to the bowling alley. D) Cameron does not have a dominant strategy.
Contribution margin is
a. the contribution of each unit sold towards covering the fixed costs b. the contribution of each unit sold towards covering the variable costs c. the contribution of each unit sold towards covering the average variable costs d. All of the above
According to the table shown, fixed costs must be:
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. $10.
B. $200.
C. $60.
D. Fixed costs cannot be determined by the information in the table.
The income that is available to individuals for consumption or investment is called disposable income
a. True b. False Indicate whether the statement is true or false