Differences in marginal revenue products are the most important factor in explaining wage differences. Other factors that explain wage differences include all but one of the following. Which factor does not help explain differences in wages?
A) discrimination B) labor unions
C) compensating differentials D) cognitive differentials
D
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If the MPC is 0.8, what change in investment spending is required to effect a total change in income by $60 billion?
A. $25 billion B. $15 billion C. $20 billion D. $12 billion
There are no quasilinear tastes that have constant elasticity of substitution.
Answer the following statement true (T) or false (F)
Providing housing decreases the incentive for the poor to find their own.
A. True B. False C. Uncertain
A country can attempt to increase its capital stock by
a. shifting resources away from capital goods toward consumer goods b. shifting resources away from human capital goods toward physical capital goods c. shifting resources away from consumer goods toward capital goods d. shifting resources away from physical capital goods toward human capital goods e. shifting resources away from consuming tomorrow toward consuming today