The Difference Between the Average Earnings of Eye Surgeons and Those

question 88

Multiple Choice

The difference between the average earnings of eye surgeons and those of janitors is _____

• A)an example of a temporary differential caused by a lack of resource mobility.
• B)an example of a permanent differential caused by differences in the time and money involved in developing the necessary skills.
• C)an example of a permanent differential caused by differences in nonmonetary aspects of the job.
• D)a temporary difference that will be eliminated through the reallocation of resources to different uses.
• E)an example of a permanent differential caused by a difference in the inherent quality of the resource.

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Definitions:

Transaction Costs

Expenses incurred when buying or selling goods or services, including search, bargaining, and enforcement costs of a deal.

Air Quality

The condition of the air based on the amount of pollution present; influences environmental and human health.

Water Pollution

Contamination of water bodies such as lakes, rivers, oceans, and groundwater caused by substances harmful to living organisms.

Environmental Regulation

Laws, policies, and regulations that are designed to protect the environment and regulate the impact of human activities on it.