A typical 50-year-old male earns:
a. one-third more than a male in his early 20s.
b. nearly twice the income of a male in his early 20s.
c. one-third less than workers over 65.
d. nearly twice the income of workers over 65.
Question 2
A written contract between an employer and an employee creates value as long as:
a. the benefits exceed the costs of forming and enforcing it.
b. the productivity of the employee is equivalent to the wage.
c. on-the-job learning is unimportant.
d. the relationship between the employer and the employee is short-term.
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