Refer to Table 9-14. The real average hourly earnings for 1965 in 1982-1984 dollars equal
A) $1.28.
B) $6.49.
C) $8.28.
D) $15.45.
C
Economics
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When the price of oranges increases from $4 to $6 per bag, the quantity demanded of oranges decreases from 800 bags to 700 bags. The price elasticity of demand over this price range is equal to
A) 3. B) 3/7 or 0.4286. C) 1/3 or 0.3333. D) 1/4 or 0.25.
Economics
Explain why a minimum wage is unfair
What will be an ideal response?
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