It is sometimes claimed that garbage collectors are paid more than elementary school teachers. If this is true, one reason might be
a. the difference in working conditions
b. that school teachers are usually women
c. that the supply of teachers is small
d. that the demand for teachers is small
e. that the market does not value teachers
A
You might also like to view...
It is possible to analyze education decisions in a manner similar to the decision to acquire more
A. capital. B. leisure. C. work. D. goods and services.
The only way that a society can produce outside the production possibilities curve is
A. by obeying the Law of Increasing Additional Cost. B. by producing efficiently. C. through economic growth. D. to use the concept of opportunity cost.
The difference between the value of a product enjoyed by consumers and the total variable costs incurred by producers in a competitive market for that product is
A. producer surplus. B. consumer surplus. C. the difference between consumer surplus and producer surplus. D. the sum of consumer surplus and producer surplus.
What is the history behind the idea of a fractional reserve banking system?
What will be an ideal response?