It is estimated that, on the average and without taking account of skill differentials, union wages are
A) equal to nonunion wages.
B) less than nonunion wages.
C) 66 percent higher than nonunion wages.
D) 100 percent higher than nonunion wages.
E) 30 percent higher than nonunion wages.
E
Economics
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Marginal revenue product of labor for a competitive seller is
A) equal to the marginal product of labor multiplied by the output price. B) the marginal revenue of the product multiplied by the output price. C) the change in total product from hiring one more worker. D) the output price multiplied by the quantity sold.
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The poverty rate for those over age 65 exceeds the rate for those under 18
Indicate whether the statement is true or false
Economics