Which of the following statements are correct about the age-earnings cycle?
A) Earnings generally increase up till age 30 and then steadily decrease.
B) Earnings increase throughout a prison's lifetime until they reach retirement.
C) Earnings increase with age because workers become more productive as they age until around 50 years. Around 50 the effects of aging outweighs the further increases in productivity.
D) Since every person is different we can reach no general conclusions about the age-earnings cycle.
C
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Salvador grows orchids to sell to local florists. When Salvador began raising his current crop of 1,000 orchids, he could sell them for $20 per plant, and he incurred shipping costs of $3 per plant. His cost of raising orchids is $8 per plant
When his crop was ready to ship, florists were only paying $9 per plant. Use marginal analysis to determine Salvador's best course of action given the drop in the price of orchids.
In the calculation of gross domestic product by the expenditure approach, the "investment" component is
A) net investment. B) gross investment minus depreciation. C) gross investment plus depreciation. D) gross investment.