Deregulation is the process of _________ government control over industries.
A. reducing
B. eliminating
C. marginalizing
D. increasing
Answer: A
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An increase in the price level
A) shifts the short-run aggregate supply curve up and to the left. B) shifts the short-run aggregate supply curve down and to the right. C) shifts the long-run aggregate supply curve to the left. D) results in a movement along the short-run aggregate supply curve, rather than a shift in the short-run aggregate supply curve.
According to AD-AS model, the primary long-run effect of increases in the money supply is
A) higher price level. B) higher GDP. C) lower price level. D) lower GDP.
Explain the effect of self-selection on compensating wage differential.
What will be an ideal response?
The more specialized and highly valued a worker’s skills are,
A. the lower is the worker’s stock of human capital. B. the more likely the worker is to earn economic rent. C. the less likely the worker is to sell the skills on the primary labor market. D. the more likely the worker is to be directly affected by minimum wage legislation.