Which of the following statements is true?
a. Income earned by a worker with a college degree grows more rapidly than a worker without a college degree during their early working years.
b. A worker with a college degree always earns less than a worker without a college degree.
c. A worker with a college degree always earns more than a worker without a college degree.
d. A worker without a college degree initially earns more than a worker with a college degree but the latter surpasses the former in due course of time.
e. Both the workers earn equal incomes after a certain period of time.
d
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Suppose consumers view the George Foreman Grill and the Weber charcoal grill as close substitutes. Other things constant, a fall in the price of the George Foreman Grill would tend to
A) increase the demand for the Weber grill. B) increase the demand for the George Foreman Grill. C) decrease the demand for the Weber grill. D) decrease the demand for the George Foreman Grill.
All of the following would stimulate economic growth EXCEPT
A) decreasing taxes on consumption (for instance, decreasing a sales taxes) and increasing income taxes. B) subsidizing basic research. C) decreasing tuition charges at state universities. D) encouraging international trade.