The average CEO's salary in 2005 was______________?
Correct answer: D. 262 times that of the average workers
- A. 50 times that of the average workers
- B. 100 times that of the average workers
- C. 250 times that of the average workers
- D. 262 times that of the average workers
Explanation
In 2005, the average CEO's compensation was reported as about 262 times that of the average worker. This figure is used to show the sharp expansion of executive-worker pay inequality.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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