The age-earnings cycle is an earnings profile of an individual throughout the person's lifetime. The profile shows that
A) earnings usually peak at age 25 and then decline.
B) earnings gradually rise until they peak around age 50.
C) earnings and age have no particular correlation.
D) younger workers have the most productivity.
B
Economics
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Isoquants are convex to the origin due to:
A) the law of diminishing marginal utility. B) the assumption of the diminishing marginal productivity of each input. C) the fact that as less capital is used, its marginal productivity falls. D) the fact that as more labor is used, its marginal productivity rises.
Economics
The government could close an inflationary gap by increasing government spending by some amount greater than taxes
Indicate whether the statement is true or false
Economics