____ is the rate that applies when banks borrow and lend reserves to one another
a. The repo rate
b. The discount rate
c. The coupon rate
d. The federal fund rate
d
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Two explanations for increasing wage inequality are ________ and ________.
A. increased labor supply; a slowdown in productivity growth B. technological progress; a modernized capital stock C. increased worker mobility; transition aid D. globalization; skill-biased technological change
Of the theories listed below, which do the best job of explaining why educated people are paid more than uneducated people?
a. human-capital and price-fixing b. human-capital and signaling c. wage-differential and signaling d. wage-differential and compensating-differentials
Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero. Suppose Leo earns $10. He will lose ________ from each benefit, for a total loss of ________.
A. $.75; $1.00 B. $7.50; $15.00 C. $7.50; $7.50 D. $.75; $1.50
A country's production possibilities will grow if it
a. produces more guns than butter. b. lowers its opportunity costs. c. makes more trade-offs. d. increases its resources.