The reason U.S. workers were better paid than foreign workers during the 1950s and 1960s is
A. U.S. workers were better trained and educated.
B. U.S. workers worked harder.
C. we had more capital (plant and equipment) per worker.
D. the U.S. dollar was the world's strongest currency.
C. we had more capital (plant and equipment) per worker.
You might also like to view...
Use of bovine growth hormone (BGH) on cattle dramatically increases the milk output of dairy cows. Dairy farmers in Wisconsin vigorously oppose permitting the drug’s use over concerns of an excess supply and a consumer reaction on the purity of food issue that could put many of them out of business. Which of the graphs in Figure 4-13 is consistent with these concerns?
A. 1 B. 2 C. 3 D. 4
Which of the following is correct? i. U.S. total surplus decreases when the United States exports a good. ii. U.S. total surplus decreases when the United States imports a good. iii. U.S
total surplus increases when the United States imports a good and when it exports a good. A) i only B) iii only C) i and ii D) ii only E) None of the above because the U.S. total surplus does not change as a result of trade
All taxes distort market decisions, affecting the buying and selling of goods and services
a. True b. False Indicate whether the statement is true or false
Refer to Scenario 9.8 below to answer the question(s) that follow. SCENARIO 9.8: Investors put up $1,040,000 to construct a building and purchase all equipment for a new gourmet cupcake bakery. The investors expect to earn a minimum return of 10 per cent on their investment. The bakery is open 52 weeks per year and sells 900 cupcakes per week. The fixed costs are spread over the 52 weeks (i.e. prorated weekly). Included in the fixed costs is the 10% return to the investors and $2,000 in other fixed costs. Variable costs include $2,000 in weekly wages, and $600 per week in materials, electricity, etc. The bakery charges $8 on average per cupcake.Refer to Scenario 9.8. Total revenue per week is
A. $6,000. B. $7,200. C. $8,100. D. $9,500.