Nancy and Sheila are both loan officers who started working for their current employer during the same year, graduated from the same university with bachelors' degrees in economics, and achieved similar performance reviews. Nancy earned a master's degree last year. If Nancy earns a higher annual salary than Sheila because she has more formal education, the employer is

Suppose a medical study reveals new benefits to consuming beef and at the same time a bumper corn crop reduces the cost of feeding steers. The equilibrium price of beef will

A) fall. B) perhaps rise, fall, or stay the same, but more information is needed to determine which it does. C) stay the same. D) rise.

Which of the following is a reason for the failure of development plans?

(a) unreliable data. (b) unanticipated economic disturbances. (c) lack of political will. (d) all of the above. (e) none of the above.