Answered: 6. Average nominal wages are higher in…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6. Average nominal wages are higher in large cities than small cities. This is consistent with
A. Large cities are more productive.
B. Large cities are more skilled.
C. Wages aside, large cities are less attractive places to live.
D. All of the above.

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Step 1- Introduction

The markets are the place where the buyers, and the sellers of various goods, services, and other products tend to meet and interact with each other. The markets are made up of two sides, the demand, and the supply. The firms, businesses, and producers tend to make up the supply side where they supply the products produced by them.

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