The study by economists Cox and Alm found
a. the gap between rich and poor shrinks greatly if using after-tax income compared with pre-tax income.
b. the gap between rich and poor shrinks slightly if using after-tax income compared with pre-tax income.
c. the gap between rich and poor widens slightly if using after-tax income compared with pre-tax income.
d. the gap between rich and poor widens greatly if using after-tax income compared with pre-tax income.
b
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Suppose that a firm is currently producing 500 units of output. At this level of output, TVC = $10,000 and TFC = $25,000. What is the firms ATC?
A) $20 B) $50 C) $70 D) $100
A large employer gives each new hire an aptitude test, which is scored from 1 to 20. Let T be a worker's score on the test. The firm then pays a new worker a wage of w = 0.6T + 0.4G where G is the average test score for the worker's gender: 16 for women; 12 for men. How much more is a woman paid than a man when both scored a 10 on the test?
A. $0.80 B. $0.40 C. $0.20 D. $1.60 E. $3.20