Window cleaners that work the top floors of high-rise office buildings are, on average, paid approximately 30 percent more an hour than those that clean windows on the bottom floor. This is an example of
a. non-pecuniary job benefits.
b. compensating wage differentials.
c. irrational wage compensation.
d. employment discrimination.
b. compensating wage differentials.
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The period between a business cycle peak and a business cycle trough is called
A) recalculation. B) recession. C) diffusion. D) expansion.
If on a given product indifference curve a firm is using an insufficient (nonoptimal) amount of one of its inputs
a. output will be below optimal. b. the MRP of the input will be below its price. c. costs will not be minimal. d. relative input prices need to change.
The total cost curve
A. is parallel to the total fixed cost curve. B. is a horizontal line. C. increases at a decreasing rate due to diminishing returns. D. is parallel to and above the total variable cost curve.
Large increases in educational attainment would likely be a source of
A. import competing growth. B. specialized growth. C. concentrated growth. D. generalized growth.