Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. If the price of cashews rises from $4 to $6, the market quantity demanded would

The most important factor contributing to wage differences in the labor market is differences in the level of education and training among workers

Indicate whether the statement is true or false

According to economist A. P. Lerner, taking income from a wealthy individual and giving it to a poorer individual would

a. decrease the economy's total utility b. decrease the economy's investment rate c. eventually increase poverty in the economy d. lessen the incentive to work e. increase the economy's total utility