The data suggest that wages increase more with age for the highly educated compared to the less educated. This is evidence that
A. highly educated people also invest more in postschooling human capital compared to the less educated.
B. the return to education is low for all education levels.
C. the return to education is constant with respect to age.
D. less educated workers invest on-the-job training more so than do the highly educated.
E. on-the-job training is unrelated to the level of formal schooling.
Answer: A
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A) positive. B) increasing. C) decreasing. D) negative.
If the price of one good increases, and as a result the demand for another good increases, the goods are
A) substitutes. B) normal goods. C) complements. D) inferior goods.
"The deadweight loss of a monopoly equals the monopoly firm's profits." Do you agree or disagree? Why?
What will be an ideal response?
Economic researchers have found:
A. no examples of countries with high rates of money growth and low inflation rates. B. many examples of countries with high rates of money growth and low inflation rates. C. many examples of countries with low rates of money growth and high inflation rates. D. no relationship between rates of money growth and inflation rates.