Jobs that require more costly training generally have
a. higher wages
b. lower employment levels
c. less human capital required
d. higher personal risk levels
e. lower wages
A
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A reason why it is difficult for developing countries to maintain a cartel is that
A) the elasticity of demand for a cartel's output decreases over time. B) producers in the cartel have an economic incentive to cheat. C) economic profits discourage other producers from entering the industry. D) producers in the cartel have the motivation to lower prices but not to raise prices. E) tariffs allow producers in the cartel to produce items that make no profit.
Figure 33-7
?
In Figure 33-7, the case for restrictive monetary and fiscal policy is strongest at point
A. A. B. B. C. C. D. D.
The profit-maximizing output of a monopolistic competitor is determined at the point of intersection of the demand curve and the marginal cost curve
a. True b. False Indicate whether the statement is true or false
The quantity theory of money concludes that if real output is constant:
A. changes in velocity are proportional to changes in nominal income. B. changes in the price level are caused by changes in the money supply. C. real GDP and the money supply are related in the long run. D. changes in velocity are proportional to changes in the money supply.