According to the neoclassical theory of distribution, the wages paid to John Deere tractor assembly line workers are higher than those paid to fast food workers because assembly line workers
a. have college degrees, on average, whereas fast food workers usually do not.
b. produce a product of greater market value than do fast food workers.
c. work in a less stressful environment than do fast food workers.
d. are less likely to belong to a labor union than are fast food workers.
b
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If Happy Avocados, a ready-made guacamole manufacturer, purchases an avocado farm, this is an example of ________.
A) outsourcing B) backward integration C) divestiture D) forward integration
In the case of positive externalities, social benefits are __________ internal benefits.
A. less than B. equal to C. sometimes greater and sometimes less than D. greater than
Suppose that in 2015 you paid $150,000 for a house that was built in 2005 and sold that year for $210,000 . The amount this transaction would add to the GDP in 2015 is
a. $0. b. $60,000. c. $210,000. d. ?$60,000
Refer to the information provided in Table 3.2 below to answer the question(s) that follow.Table 3.2Price per CheeseburgerQuantity Demanded (Cheeseburgers per Month)Quantity Supplied (Cheeseburgers per Month)$51,500 500 61,200 700 7 900 900 8 6001,100 9 3001,300Refer to Table 3.2. If the price per cheeseburger is $8, there is an excess
A. supply of 500 cheeseburgers. B. demand of 300 cheeseburgers. C. demand of 600 cheeseburgers. D. supply of 1,100 cheeseburgers.