Refer to Figure 1A.1. Assume that the graph in this figure represents the demand and supply curves for used cars, which are inferior goods. An increase in income would be represented by a shift from
A) Demand 1 to Demand 2.
B) Demand 2 to Demand 1.
C) Supply 1 to Supply 2.
D) Supply 2 to Supply 1.
B
Economics
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The cost, c, of a college education that serves only as a signal of a high-quality worker is $20,000. The wage of a known high-quality worker, wh, is $75,000. The wage for a known low-quality worker, wl, is $50,000
For what value of the share of the work force that is of high quality, t, is a pooling equilibrium possible?
Economics
As of the year 2000, manufacturing, mining, and construction accounted for what percentage of total U.S. output?
A. 19 percent. B. 15 percent. C. 28 percent. D. None of the choices are correct.
Economics