Of approximately 140 million jobs in the U.S., each year, approximately
A. 31 million are eliminated and 30 million are created.
B. all jobs eliminated pay lower wages than the new jobs created.
C. 30 million are eliminated and 31 million are created.
D. all jobs eliminated are attributable to global outsourcing.
Answer: C
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An example of moral hazard is
a. A taxi driver paid per mile taking the shortest route b. a piece-rate garment worker shirking more than a per jour worker c. an hourly salesman working less hard than a commission salesman d. an author on contract going to as many book signings as one with a percentage royalty rate
A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm, a $1240 television made by a Korean firm in Korea, and $220 on groceries from a local store. As a result, U.S. GDP
a. increases by $40. b. increases by $220. c. increases by $280. d. increases by $1500.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD1 the result in the short run would be:
A. P4 and Y2. B. P4 and Y1. C. P1 and Y1. D. P3 and Y1.
Using the formula for an infinite sum, if "r" designates the reserve ratio, the 1 / reserve ratio would equal:
A. (1 - r). B. 1 / (1 - r). C. 1 / [1 - (1 - r)]. D. r / (1 - r).