The United States is the only country to face increasing inequality in their income distribution in the last several decades.
Answer the following statement true (T) or false (F)
False
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The Bubby Gum factory produces bubble gum. Joanne is one of the employees, and she produces 10 packs of bubble gum per hour. Joanne's money wage rate is $12 per hour. If a packet of bubble gum sells for $1.00, then
A) Joanne is creating a $2.00 per hour profit for the firm. B) Joanne is creating a $2.00 per hour loss for the firm. C) the Bubby Gum company should pay Joanne more. D) the Bubby Gum company should decrease the price of the bubble gum so it sells more and makes a larger profit. E) None of the above answers is correct because more information about Joanne's real wage is needed to decide what to do.
If the pollution havens hypothesis is true, we should expect world pollution to decline as a result of international trade and globalization
Indicate whether the statement is true or false
If top managers make good decisions, the firm's profits will be ________, and the firms assets will be ________
A) high; small relative to its liabilities. B) high; large relative to its liabilities. C) equal to its revenues; small relative to its liabilities. D) low; large relative to its liabilities
The circular flow of income shows that
A) households transact only in the goods market. B) governments purchase goods and services. C) firms generally are the demanders in the goods markets and suppliers in the factor markets. D) None of the above answers is correct.