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Chapter 10: Problem 19

The average American CEO earns times the earnings of the average worker. (LO7) a) 10 to 15 d) 300 to 600 b) 25 to 40 e) 1,000 to 1,200 c) 100 to 150

Short Answer

Expert verified
The correct range for the ratio of the average American CEO's earnings to the average worker's earnings is 300 to 600 times. (Option d)

Step by step solution

01

Understand the given options

The question provides five different ranges for the possible ratio of the average American CEO's earnings to those of an average worker. Our task is to choose the correct range among the given options.
02

Research the data

In order to determine the correct range, you will need to research the topic. You can start by searching for recent data on income ratios between American CEO's and workers. Possible resources include publications by government agencies, economic institutes, or news articles.
03

Compare the researched data to the given options

Once you have found reliable data about the income ratio between CEOs and workers, compare it to the given options. If one of those options matches the data you have found, you can select it as the correct response.
04

Choose the correct range

Based on your research, you should now be able to choose the correct range among the given options. Note that if none of the options match the data you have found, it's possible that the information provided by the question is outdated or incorrect, and you may want to consult additional resources for clarification. Remember, this exercise is likely intended to help you become familiar with income disparities, and the specific values provided may not be the main focus. Instead, focus on understanding the general trends and implications of such income disparities.

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Most popular questions from this chapter

Which of the following is a natural monopoly? (LO6) a) the National Football League b) a local phone company c) DeBeers Diamond Company d) IBM

Each of the following is true about Walmart except that (LO8) a) it is the largest employer in the United States b) it is the largest company in the world c) it pays its employees, on average, about the same as its competitors d) it drives hard bargains with suppliers and passes along the savings to its customers

An example of government ownership of a monopoly is (LO6) a) the Tennessee Valley Authority b) the New York State Public Service Commission c) AT\&T d) General Motors

Which statement is the most accurate? (LO6) a) The rationale for natural monopoly has been strengthened by deregulation. b) Your local phone and electric companies will probably continue to be monopolies for at least another 50 years. c) Deregulation and competition tend to lower costs. d) Natural monopoly never had any economic basis.

The basis for monopoly in the automobile industry would most likely be (LO4) a) control over an essential resource b) economies of scale c) legal barriers
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