Diane's Auto World installs tires on automobiles, light trucks, and sport utility vehicles. She is a profit-maximizing business owner whose firm operates in a competitive market. The marginal cost of installing a tire is $10 . The marginal productivity of the last worker that Diane hired was 2 tires per hour. What is the maximum hourly wage that Diane was willing to pay the last worker hired?

During recessions, economics majors earn about 35 percent more than the typical college graduate

Indicate whether the statement is true or false

How does inclusion of the current revenues and expenditures of the Social Security trust fund into the budget calculation currently affect the reported budget deficit of the federal government?

a. It increases the reported deficit. b. It reduces the reported deficit. c. It exerts no effect on the reported deficit. d. It increases the deficit during an economic boom but reduces it during a recession.