The term "brain drain" refers to
A) the decreased quality of the college-educated workforce.
B) highly educated individuals who leave developing countries for high-income countries.
C) the negative impact on brain function of an individual's overinvestment in human capital.
D) the diminishing returns to studying for an exam.
B
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A minimum wage set above the equilibrium wage rate for low-skilled workers ________
A) creates more employment opportunities for low-skilled workers B) creates more prosperity among younger people C) creates unemployment among low-skilled workers D) increases the number of good paying jobs available to young people
The newest fixed exchange rate system is the
A) European Monetary System. B) euro in the European Union countries. C) Bretton Woods system. D) gold standard.
The growth of cities was due to the existence of important scale economies, which include all of the following except
(a) Central water and sewer systems (b) Education systems (c) Crime, congestion and pollution (d) Police and fire protection
Which of the following contributed to the rising mortgage default and foreclosure rates and the eventual economic crisis of 2008?
a. tightened mortgage lending standards and the reduction of loanable funds during 2001-2005 b. the increase in the greed of Wall Street bankers and other commercial lenders c. the substantial increase in sub-prime and adjustable rate mortgages as a share of the total during 2001-2006 d. the increase in the household savings rate during the two decades following 1985 e. the increase in fixed rate mortgages as a share of the total during the decade prior to the crisis