The statement "the rich get richer and the poor get poorer" is evident in the fact that
a. the earnings gap between high-skill jobs and low-skill jobs has increased over the last several years.
b. developing countries do not pay workers the value of their marginal product.
c. developed economies export high-skill jobs to developing countries.
d. All of the above are correct.
a
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"Discouraged" workers are counted as "unemployed."
Indicate whether the statement is true or false
The law of diminishing marginal utility states that:
a. the marginal utility of the last unit consumed of any good is less than the marginal utility of all other products consumed. b. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, increases. c. as more of a good or service is consumed, the marginal utility derived from it decreases. d. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, remains the same. e. the marginal utility of all products consumed must be equal.