High skilled labor and information technology are ________ while low skilled labor and information technology are ________
A) complements; substitutes
B) substitutes; substitutes
C) substitutes; complements
D) complements; complements
A
You might also like to view...
In a competitive labor market
a. wages would be determined by supply and demand. b. the demand curve for labor is derived like the demand curve for any other input. c. the demand curve for labor is the downward-sloping portion of the MRP curve. d. All of the above answers are correct.
Suppose that the Fed unexpectedly pursues contractionary monetary policy. What will happen to unemployment in the short run? What will happen to unemployment in the long run? Justify your answer using the Phillips curves
Jim enjoys the feeling of wind in his hair enough to ride his motorcycle without a helmet, even though he fully realizes the greater potential for injury it creates by not wearing one in the unlikely event he is in an accident. To an economist, Jim is
a. making an irrational choice. b. making a rational choice. c. not fully considering the personal costs and benefits of his decision. d. not responding to the incentives he faces.
During the German hyperinflation of the 1920s, the large increases in the money supply were generated by the German government
A) significantly lowering the required reserve ratio to enable German businesses to obtain loans. B) significantly raising the required reserve ratio to reduce business loans. C) printing large quantities of German marks. D) selling large quantities of government bonds to the central bank, the Reichsbank.