Between 1960 and 1980, the female/male annual earnings ratio of full-time workers ____. Between 1980 and 2011, the female/male annual earnings ratio of full-time workers ____
a. changed very little; fell
b. changed very little; rose
c. fell; changed very little
d. rose; changed very little
B
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According to the text, economists consider full employment to occur when
A) everyone who wants a job has a job. B) frictional unemployment equals zero. C) the sum of frictional unemployment and structural unemployment equals zero. D) the unemployment rate consists of only frictional and structural unemployment.
Labor productivity in the United States was 5.4 times higher in the United States than in China in 2010. A key reason that labor productivity is higher in the United States is because the United States
A) has a higher growth rate, based on GDP per capita, than China. B) has a higher life expectancy and higher birth rate than China. C) devotes more resources than China to developing new technology and accumulating human capital. D) devotes more resources than China to developing export markets to boost its real GDP and income.
In the above figure, what would be the profit or loss at the marginal cost pricing point for this natural monopolist?
A) -$300 B) $2,700 C) $2,100 D) -$1,200
The graph shown demonstrates a tax on sellers. Which of the following can be said about the effect of this tax?
A. The price paid by buyers is greater than that received by sellers, and the difference is the tax wedge.
B. The price paid by buyers is less than that received by sellers, and the difference is the total tax revenue.
C. The price paid by buyers is greater than that received by sellers, and the difference is the total tax revenue.
D. The price paid by buyers and received by sellers is higher than it was before the tax was imposed.