The increasing wage inequality in the United States is between ________ workers and ________ workers.
A. old; young
B. highly-skilled; unskilled
C. service-sector; industrial-sector
D. male; female
Answer: B
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A monopoly producer of a durable good:
a. can earn even greater profits than a producer of a non-durable. b. must consider competition from its own output decisions. c. will have higher marginal costs than most other monopolies. d. will not set marginal revenue equal to marginal cost.
A horizontal line always has a slope of one
a. True b. False Indicate whether the statement is true or false
According to the theory of liquidity preference,
a. if the interest rate is below the equilibrium level, then the quantity of money people want to hold is less than the quantity of money the Fed has created. b. if the interest rate is above the equilibrium level, then the quantity of money people want to hold is greater than the quantity of money the Fed has created. c. the demand for money is represented by a downward-sloping line on a supply-and-demand graph. d. All of the above are correct.
An increase in the price of milk would be shown by a:
A. rightward shift of the supply curve for milk. B. movement up and to the right along the supply curve for milk. C. leftward shift of the supply curve for milk. D. movement down and to the left along the supply curve for milk.