During the 1920s, income inequality ______ and the return on schooling was relatively _____
a. increased; low
b. increased; high
c. decreased; low
d. decreased; high
b. increased; high
Economics
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A binding price floor is presented graphically as a(n):
a. price at equilibrium. b. price below equilibrium. c. price above equilibrium. d. inefficiently high quality of the good provided
Economics
Which of the following is true (assume the small country case)?
A) With a quota, an increase in demand leads to a higher price and more imports. B) With a tariff, an increase in demand leads to a higher price and more imports. C) With either a tariff or a quota, an increase in demand leads to a higher price and more imports. D) None of the above are true.
Economics