Wages in the United States are higher than those in Mexico primarily because
a. output per worker is higher in Mexico than in the United States.
b. output per worker is higher in the United States.
c. the human and physical capital of American workers is lower than that of their Mexican counterparts.
d. all of the above are correct.
B
Economics
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Assume the short-run average total cost for a perfectly competitive industry remains constant as the output of the industry expands. In the long run, the industry supply curve will:
a. have a positive slope. b. have a negative slope. c. be perfectly horizontal. d. be perfectly vertical.
Economics
An asset of a bank is
a. the value of money that is on deposit. b. the amount a depositor may legally borrow. c. something of value that the bank owes to a depositor. d. something of value that a bank owns.
Economics