List three reasons why one type of labor may be paid more than another
What will be an ideal response?
(1.) Some people are born with attributes that translate into valuable
skills.
(2.) Some people have invested in human capital to improve their skills.
(3.) Some jobs are more desirable than others.
Economics
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Suppose that MUx/Px exceeds MUy/Py. To maximize utility the consumer who is spending all her money income should buy:
A) less of X only if its price rises. B) more of Y only if its price rises. C) more of Y and less of X. D) more of X and less of Y.
Economics
At higher income levels the interest rate must be lower to achieve money market equilibrium
Indicate whether the statement is true or false
Economics