Scarcity and choice are the basic problems of economics; the supply and demand mechanism is the basic investigative tool of economics

If people's incomes decrease, their demand for other currencies shifts to the right

a. True b. False Indicate whether the statement is true or false

Under normal circumstances, the equilibrium compensation wage differential is the wage differential that exactly attracts the

A. marginal worker into the labor market. B. average high-skilled worker into a low-skill job. C. average worker into a regular job. D. marginal worker into a risky job. E. average worker into a less risky job.