A sizable appreciation of the U.S. dollar in the mid-1980s
A. raised U.S. exports and imports.
B. raised U.S. exports and reduced imports.
C. reduced U.S. exports and imports.
D. reduced U.S. exports and raised imports.
Answer: D
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The Haig-Simons definition of income and the Fisher definition of income are virtually identical
a. True b. False
Over the past 30 years, the number of jobs in the United States requiring skilled labor has been declining as foreign countries steal these jobs away from the U.S. As a result, the domestic demand for skilled labor has been falling and the wage gap between skilled and unskilled labor has been narrowing
a. True b. False Indicate whether the statement is true or false
Chapter 12
What will be an ideal response?
A distinguishing characteristic of public transfer payments is that:
A. They include wages to government workers B. They are counted as part of government purchases in the calculation of the gross domestic product C. They include the cost of maintaining public parks D. They involve no contribution to current production in return