One reason why the average salary of Major League Baseball players is higher than the average salary of college professors is
A) competition among baseball club owners forces player salaries to be much higher than the players' marginal revenue products.
B) the marginal revenue product of baseball players is greater than the marginal revenue product of college professors.
C) the careers of most baseball players are much shorter than the careers of most college professors.
D) college professors accept lower salaries in exchange for better working conditions.
B
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The Federal Open Market Committee has responsibility for
A) advising the Treasury Department on monetary policy. B) printing money. C) issuing orders to buy or sell government securities for the Fed. D) appointing members to the Board of Governors of the Federal Reserve system.
All of the following can cause technological progress EXCEPT
A) population decreases. B) free trade. C) education. D) research and development.