Increases in international trade and technological change have been offered as explanations for the
a. increase in demand for both skilled and unskilled workers in the United States.
b. increase in demand for skilled workers and decrease in demand for unskilled workers in the United States.
c. decrease in demand for skilled workers and increase in demand for skilled workers in the United States.
d. decrease in demand for both skilled and unskilled workers.
b
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An open market sale of securities by the Fed
A) decreases banks' reserves and increases banks' securities. B) increases banks' reserves and decreases banks' securities. C) increases banks' total assets. D) involves a bank selling government securities to the Fed.
If firms are earning economic profit in a monopolistically competitive market, which of the following is most likely to happen in the long run?
A) Some firms will leave the market. B) Firms will join together to keep others from entering. C) New firms will enter the market, thereby eliminating the economic profit. D) Firms will continue to earn economic profit.
The input efficiency condition:
A. holds if at least one pair of firms share the same marginal rate of technical substitution between every pair of inputs. B. holds if at least one pair of consumers share the same marginal rate of substitution between two goods. C. holds if every pair of firms share the same marginal rate of technical substitution between every pair of inputs. D. holds if every pair of firms share the same marginal rate of substitution between two goods.
Which of the following properties is common to a partnership business?
a. Limited liability b. Centralized ownership and management c. Continuity and unlimited existence of the business d. Co-ownership of contributed assets