Jobs are the key to economic progress unless we create more
“Jobs are the key to economic progress. Unless we create more jobs, our standard of living will fall.” Is this statement true or false? Explain.
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Barriers to entry are crucial to the existence of long-run profits, but they cannot guarantee the existence of profits
The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?
Why are real wages in the United States higher than in other countries? Is the labor force itself responsible for the higher wages of American workers? Explain.
The earnings of engineers, doctors, and lawyers are high because lots of education is necessary to practice in these fields
Jobs are the key to economic progress. Unless we create more jobs, our standard of living will fall
Other things being constant, how will the following influence the hourly earnings of employees? Explain your answer. a. The employee must work the midnight to 8: 00 A.M. shift.
Consider two occupations (A and B) that employ people with the same skills and abilities. When employed, workers in the two occupations work the same number of hours per day.
A lender made the following statement to a borrower: “You are borrowing $1,000, which is to be repaid in twelve monthly installments of $100 each. Your total interest charge is $200
In a market economy, investors have a strong incentive to undertake profitable investments. What makes an investment profitable? Do profitable investments create wealth? Why or why not? Do all investments create wealth? Discuss.
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