All of the following describe trends in U.S. labor markets except:
A. substantial growth in real ages during the last century.
B. growing wage inequality in the United States in recent decades.
C. a slowdown in real wage growth since the 1970s.
D. substantial growth in the level of employment in the United States since 2000.
Answer: A
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Using n to represent price elasticity of demand, a simple monopolist will find that its marginal revenue at any point along its demand curve is equal to price at that point multiplied by
a. (1 - 1/|n|) b. 1/|n| c. |n| d. |n|*MC
The only type of business that faces limited liability is a corporation
Indicate whether the statement is true or false
Refer to the table below. Busy Betty sells her cakes for $20 each and her constant marginal cost to produce each cake is $12, which is equal to her (constant) average total cost. If she does not sell a cake the day she makes it, she sells it as day-old cake for $10. What is her expected marginal cost of holding the 22nd cake in inventory?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) $0.40
B) $1.20
C) $0.80
D) $2.00
Currently, how much of the U.S. national debt is owed to foreigners?
a. About 2.5 percent. b. About 25 percent. c. About 30 percent. d. About 59 percent.