Author Question: Since 1967, there has not been much change in the income of the bottom 10 of earners in the U.S. ... (Read 14 times)

chads108 · **on:** Jun 29, 2018

Since 1967, there has not been much change in the income of the bottom 10 of earners in the U.S. economy. This can be attributed to:

A) the adoption of labor-saving technology.
B) the cultural and social changes in the economy.
C) the adoption of labor-complementary technology.
D) the adoption of skill-biased technology by most firms.

Question 2

Refer to the scenario above. Which among the following is a possible outcome if the number of bidders decreases to 45?

A) There will be no change in the outcome of the auction.
B) The optimal bid for Molly will now be 831.11.
C) The optimal bid for Molly will now be 745.
D) The optimal bid for Molly will now be 845.