Winner-take-all refers to
a. top performers in a labor market receiving much more than those who are just slightly less productive
b. computing and technology companies driving their competitors out of the market
c. rich households paying less in taxes now than they did 30 years ago
d. a negative income tax system that allows individuals to become superstars
e. the Lorenz curve shifting closer to the diagonal as the rich become richer
A
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If the U.S. government wants to increase the price of the dollar relative to the euro, it could buy euros with dollars in the foreign exchange market
Indicate whether the statement is true or false
Which of the following is an example of human capital?
A. The Internet B. The Google search engine on the Internet C. Your ability to use Google D. None of these is an example of human capital.
Assume a two-country, two-product model where the countries are A and B and the products are Y and Z. In the free trade equilibrium, the international price of good Z is less than the no trade price of good Z would be in Country A. Explain why, for Country A, Ricardo's comparative advantage model predicts full specialization, while the Heckscher-Ohlin model predicts only partial specialization in the production of two goods.
What will be an ideal response?
The quantity of good Y is measured along the vertical axis, and the quantity of good X is measured along the horizontal axis. If the prices of both good Y and good X rise, the budget line
A. shifts outward to the right and the vertical and horizontal intercepts will both rise. B. rotates, rising along the vertical axis but falling along the horizontal axis. C. shifts inward to the left and both intercepts will decline. D. none of these.