The earnings of most people
A) increase steadily until retirement.
B) increase with age until around age 50 due to increased experience, training, and hours worked.
C) increase with age until around age 40 due to increased experience and hours worked.
D) increase with age until around age 60 due to increased experience, training, and hours worked, then level off as hours worked levels off.
B
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Suppose you have borrowed money from a bank to buy a house. Which of the following will happen if the inflation rate unexpectedly rises?
A) You will be worse off. B) The real cost of your mortgage will rise. C) The bank's shareholders will be better off. D) You will be better off.
Using specialized equipment to produce simultaneously a number of similar items
a. leads to economies of scale. b. is the goal of deregulation. c. can only happen in a high technology nation. d. is called economies of scope.
The president of Tucker Motors says, "Lowering the price won't sell a single additional Tucker car." The president believes that the price elasticity of demand is:
a. perfectly elastic. b. elastic. c. perfectly inelastic. d. unitary elastic.
.If policy makers believe that an inflationary boom is about to begin, the Keynesian view indicates that they should
What will be an ideal response?