Two workers are employed in the same job by the same firm; however, they are paid different wage rates. This could be explained by differences in
a. the price of the firm's output
b. their marginal products due to differences in ability
c. working conditions
d. the income effect
e. risk
b. their marginal products due to differences in ability
Economics
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An inferior good is one for which an increase in income causes a(n)
a. increase in supply b. decrease in supply c. increase in demand d. decrease in demand
Economics
If a panic causes Indian depositors to withdraw their money from Japanese banks, it would cause the Japanese Yen to depreciate, since the supply of Yen has________
a. Not changed b. Decreased c. Increased d. None of the above
Economics