When some jobs are inherently more risky or unpleasant than other jobs, different workers will be paid different wages because of
a. differences in human capital.
b. differing access to capital.
c. compensating differentials.
d. discrimination.
c. compensating differentials.
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Use the following graph, which shows the supply and demand for British pounds, to answer the next question.
D1 and S1 represent the initial demand and supply curves. What will be the new equilibrium point if there is an increase in consumer spending by the British on American products and a decrease in consumer spending by Americans on British products?
A. Point J B. Point C C. Point A D. Point H
Imagine that an economy produces two goods, flashlights and fishing lures. In 2015, the economy produced 100 flashlights and 50 fishing lures, and the prices of flashlights and fishing lures were $5 and $11, respectively
In 2016, the economy produced 120 flashlights and 60 fishing lures, and the prices of flashlights and fishing lures were $7 and $14, respectively. respectively. What happened to nominal GDP from 2015 to 2016? What happened to real GDP?
The length of time an unemployed person searches for a job is likely to increase as
A) the working age population gets older. B) new technologies make workers more productive. C) unemployment benefits become more generous. D) the birth rate declines. E) job rationing decreases.
An decrease in quantity supplied is represented by a leftward shift of the supply curve
Indicate whether the statement is true or false