Income inequality in the United States has increased in part due to differences in productivity
A more productive worker is likely to be paid ________ than a less productive worker doing the same job, and the worker who adds more value to the product being produced is likely to be paid ________ than the worker who does not add as much value to production. A) more; more
B) more; less
C) less; more
D) less; less
A
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Explain the statement "There is no such thing as a free lunch."
What will be an ideal response?
Which of the following is a fixed cost for Wendy's Hamburgers?
a. the cost of beef b. electricity to light up the Wendy's sign c. gasoline for the trucks that deliver supplies to the various franchises d. interest on funds borrowed to build new facilities e. expenditures on paper and plastic for packaging
"The hotter it gets, the more water people drink." This statement implies that the relationship between temperature and water consumption must have a
a. negative slope. b. positive slope. c. slope always equal to one. d. slope always equal to 45 degrees.
The very low inflation that the U.S. experienced in 2009 and 2010
a. appears to have reduced expected inflation, and the short-run Phillips curve shifted downward as a result. b. appears to have reduced expected inflation, and the short-run Phillips curve shifted upward as a result. c. does not appear to have reduced expected inflation, and the short-run Phillips curve remained relatively stable as a result. d. does not appear to have reduced expected inflation, but the short-run Phillips curve shifted dramatically nevertheless.