Which of the following contributed to the increase in household and wealth inequalities in the U.S?
A. A decrease in jobs performed by intellectually-challenging labor
B. An increase in service-sector jobs
C. An increase in the participation of women in the labor force
D. A decline of union-represented manufacturing employees
Answer: D
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If the government does not know the efficient level of a Pigouvian tax to correct for a negative production externality, efficiency will still be enhanced so long as the government imposes a per-unit tax.
Answer the following statement true (T) or false (F)
A decrease in the demand for incandescent light bulbs due to changes in consumer tastes, accompanied by a decrease in the supply of incandescent light bulbs as a result of government restrictions, will result in
A) a decrease in the equilibrium quantity of incandescent light bulbs; the equilibrium price may increase or decrease. B) a decrease in the equilibrium quantity of incandescent light bulbs and no change in the equilibrium price. C) a decrease in the equilibrium price of incandescent light bulbs and no change in the equilibrium quantity. D) a decrease in the equilibrium price of incandescent light bulbs; the equilibrium quantity may increase or decrease.
The long-run aggregate supply curve shows the relationship between the ________ and ________
A) price level; quantity of real GDP supplied B) real interest rate; quantity of real GDP supplied C) inflation rate; quantity of real GDP demanded D) nominal interest rate; quantity of real GDP supplied
In which market should you begin your analysis if the domestic stock market is attracting more foreign investors? Which curve shifts initially?
a. Foreign exchange market, with a shift in the demand for domestic currency b. Real loanable funds market, with a shift in the demand for real loanable funds c. Foreign exchange market, with a shift in the supply of domestic currency d. Real goods market, with a shift in aggregate supply e. Real loanable funds market, with a shift in the supply of real loanable funds