Compared to high skilled workers, low skill workers are more
A) valuable to businesses employing professionals.
B) likely to be successful financially and accumulate wealth.
C) likely to be highly productive.
D) likely to earn low incomes.
D) likely to earn low incomes.
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In a simple circular flow diagram, who supplies factors of production in markets and who buys these factors of production? Who supplies goods and services in markets and who buys these goods and services?
What will be an ideal response?
Suppose that Year 1 is the base year. The CPI for Year 2 is approximately
A) 100.0. B) 135.0. C) 170.0. D) 240.0.
When the income-consumption curve has a positive slope throughout its entire length, we can conclude that
A) both goods are inferior. B) both goods are normal. C) the good on the vertical (y) axis is inferior. D) the good on the horizontal (x) axis is inferior.
A recession is usually associated with increasing unemployment.
Answer the following statement true (T) or false (F)