All of the following describe trends in U.S. labor markets except:
A. substantial growth in the level of employment in the United States since 2000.
B. growing wage inequality in the United States in recent decades.
C. a slowdown in real wage growth since the 1970s.
D. substantial growth in real wages during the last century.
Answer: D
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A budget surplus means that
A. government expenditures are greater than revenues in a given year. B. government revenues are greater than expenditures in a given year. C. a nation's imports are greater than its exports. D. a nation's exports are greater than its imports.
Which of the following will change the position of the IS curve?
A) An increase planned investment spending B) An increase in interest rates C) An increase in money demand D) An increase in the money supply
Since there are many special interests lobbying in favor of different tax changes but no special interests lobbying in favor of the public interest, this suggests that tax code changes will _____
a. lead towards more regressive taxation b. will favor special interests c. not be in the direction of efficiency d. b and c
Refer to Figure 35.4 for the production possibilities curve for Chile: Chile's production and consumption of wine and wheat without trade are represented by point A. Suppose that Chile has a comparative advantage in the production of wine compared to the United States and specialization and trade take place between the two countries. The most likely new combination of wine and wheat available to Chile would be
A. D. B. A. C. C. D. B.