In the United States the share of foreignborn workers with 12 years of education or less is:
a. less than 10%.
b. less than 50%.
c. more than 70%.
d. negligible.
Ans: c. more than 70%.
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Assume the price of beer is $4, the price of pizza is $10 and the consumer's income is $250. Which consumption bundle will NOT be the consumers choice?
A) 5 beers, 5 pizzas B) 0 beers, 25 pizzas C) 25 beers, 15 pizzas D) None of the bundles will be chosen.
Automatic stabilizers stabilize the level of real GDP because:
a. Congress quickly changes spending and tax revenue. b. federal expenditures and tax revenues change as the level of real GDP changes. c. the spending and tax multiplier are constant. d. wages are controlled by the minimum wage law.
Consider the segment of a demand curve along which all price elasticities of demand are less than 1 . A decrease in price anywhere along that segment
a. shifts that segment of the demand curve to the right b. increases total revenue c. decreases total revenue d. shifts that segment of the demand curve to the left e. raises the price elasticity of demand
What is the benefit to an insurance company of selling health insurance through an employer?
a. High-risk customers are identified and can be charged more. b. Low-risk customers are identified and can be charged less. c. High- and low-risk customers are mixed together into a single group. d. Low-risk customers can opt out of the health insurance plan.