Which statement is false?
A. According to the theory of the dual labor market, the rich stay rich and the poor stay poor.
B. The dual labor market theory does not account for the huge middle level of occupations—such as nursing, teaching, and social work.
C. Most poorer people tend to find jobs in the primary labor market, according to the theory of the dual labor market.
D. None of the statements are false.
C. Most poorer people tend to find jobs in the primary labor market, according to the theory of the dual labor market.
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
The aggregate production function for real business cycle models is shown as
a. yt = F(Kt, Nt). b. yt = ztF(Kt - Nt). c. yt = ztF(Kt, Nt). d. yt = zt/(Kt, Nt).
When states make car insurance mandatory for all drivers, it
A) raises rates for everyone because it brings bad drivers into the pool. B) raises rates for high-risk drivers. C) may lower rates for all drivers to the extent that it keeps low-risk drivers in the pool. D) prevents high-risk drivers from "selecting out," to the detriment of low-risk drivers. E) increases the amount of information available to insurers about the population.
If consumers' confidence in the economy rises
A. aggregate demand will shift leftward and the price level will fall. B. aggregate demand will shift rightward and the price level will rise. C. aggregate demand will shift leftward and the price level will rise. D. aggregate demand will shift rightward and the price level will fall.