Workers whose skills become obsolete as a result of technological change are often paid a lower wage as a result of
a. natural ability.
b. geographic location of employment.
c. chance.
d. work effort.
c
Economics
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Which of the following statement is FALSE?
A. A market may be composed of only one buyer and one seller. B. Perfectly competitive markets are composed of many buyers and sellers. C. Some markets may have only a few sellers but exhibit the properties of perfect competition. D. All of the above statements are correct.
Economics
A publisher is deciding whether or not to invest in a new printer. The printer would cost $900, and would increase the cash flows in year 1 by $500 and in year 3 by $800 . Cash flows do not change in year 2 . If the interest rate is 12%, what is the present value of the cash flows from the investment?
a. $155.59 b. $1015.85 c. $1076.56 d. $346.78
Economics