The reason that unskilled construction workers typically receive higher wages than retail sales clerks is best explained by:

(1) (2) (3) Percentage Of Percentage Of All Households All Households Personal Income In This In this And All Class Class Lower Classes Under $10,000 6 6 $10,000-$14,999 5 11 $15,000-$24,999 12 23 $25,000-$34,999 A 35 $35,000-$49,999 16 C $50,000-$74,999 B 72 $75,000-$99,999 13 D $100,000 and over 15 100 Using the data in the above table, what percentage of households made $100,000 or more?

A firm is faced with the following schedules of employment, revenue, and wages. How many workers will be employed by the profit-maximizing firm? Workers MRP Wage 5 $12 $5 6 13 6 7 14 7 8 15 8 9 16 9 10 17 10

The Lorenz curve is a graph that shows the:

A characteristic of a purely competitive labor market would be:

Which of the following terms describes the system of subsidized health insurance available to those 65 and older?

Why is the demand for labor referred to as a “derived” demand?

Which is an example of a noncash transfer?

Government programs, such as Social Security, SNAP, AFDC, SSI, Medicare, and Medicaid, that guarantee particular levels of transfer payments to all who fit the programs’ criteria, are called:

If the price of labor falls relative to the price of capital, and as a result the quantity of capital employed decreases, it can be concluded that: