The wage rate that is adjusted for changes in ________ over time is the real wage rate.
A. tax rates
B. the price level
C. the average number of hours worked per week
D. worker productivity
Answer: B
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Briefly explain the major argument of the factor endowment trade theory
What will be an ideal response?
An individual supply schedule is usually shown on a ______.
a. table b. graph c. pie chart d. Venn diagram
Which of the following statements is true?
A. In a command economy, consumers answer the questions of what to produce, how to produce it, and how to distribute it. B. In command economies consumers still exercise choice. C. Planned economies have fared very well in recent years, with many of these economies thriving. D. Command economies operate the most efficiently because the government makes all the production decisions.
If income distribution in an economy is perfectly equal, the lowest quintile will earn 20% of total income
Indicate whether the statement is true or false