Wage inequality has been on the rise in virtually all high-income industrial economies since the 1970s. The causes are probably numerous, but the leading explanation for the greatest share of the increase in inequality is
A) the growth of trade with developing countries.
B) the growth of trade with other high income industrial countries.
C) technological change which increased the relative demand for skilled workers.
D) technological change which increased the relative demand for unskilled workers.
E) technological change which decreased the relative demand for skilled workers.
C
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For a fixed inflation rate target, an increase in the inflation rate corresponds to a ________ the aggregate demand curve and an increase in exogenous spending corresponds to a ________ the aggregate demand curve.
A. movement up; shift right of B. shift left of; shift right of C. shift left of; movement up D. movement up; movement down
A(n) ________ in U.S. prices will cause an increase in the demand for U.S. dollars and a(n) ________ in the (per dollar) exchange rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Why do preference reversals occur?
What will be an ideal response?
If long run average costs are constant with respect to output, you have
a. Increasing returns to scale b. Decreasing returns to scale c. Constant returns to scale d. None of the above