Globalization ________ the wages of workers in the exporting industries and ________ the wages of workers in the import-competing industries.
A. lowers; raises
B. raises; does not change
C. raises; raises
D. raises; lowers
Answer: D
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An example of money is
A) a checking account balance. B) a dollar bill. C) a traveler's check. D) all of the above.
As an economy grows,
A) its PPF does not shift; instead, the production point moves from inside the PPF to be closer to the PPF. B) the opportunity cost of production will approach 0. C) it can eliminate scarcity. D) its PPF shifts outward. E) the opportunity cost of production will increase.
If the federal government announces a tax cut, which of the following is most likely in the short run?
a. A decrease in output, an increase in money demand, and an increase in the interest rate b. An increase in output, a decrease in money demand, and a decrease in the interest rate c. A decrease in output, a decrease in money demand, and a decrease in the interest rate d. An increase in output, an increase in money demand, and a decrease in the interest rate e. An increase in output, an increase in money demand, and an increase in the interest rate.
Supply-side economists favor tax incentives that
A. Discourage infrastructure development. B. Encourage investment. C. Discourage saving and encourage spending. D. Increase the level of government regulation.