The difference between an average worker's salary and that of the average CEO has_______________?
Correct answer: D. greatly increased
- A. gradually narrowed
- B. remained stable
- C. slightly increased
- D. greatly increased
Explanation
The gap between average CEO compensation and average worker pay greatly increased, especially during the late twentieth century. This trend reflects the rapid growth of executive salaries, bonuses, and stock-based compensation.
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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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