The U.S. claim to be "the land of opportunity" is not backed by recent data because a study by Miles Corak shows that
A. it has a very high level of income mobility.
B. there is a weak relationship between parental and child income in the U.S.
C. it does not have a high value of intergenerational income elasticity.
D. it has very high capital-gains tax rates.
Answer: C
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The unemployment rate is defined as the:
A) percentage of civilian non-institutionalized population aged 14 or over that is unemployed. B) percentage of labor force that is unemployed. C) percentage of total population that is unemployed. D) percentage of civilian non-institutionalized population aged 12 or over that is unemployed.
Refer to Figure 9-1. Under autarky, the deadweight loss is
A) $0. B) $30. C) $15. D) $40.
If the nominal interest rate parity condition is not met,
A) imports will exceed exports. B) the return from holding domestic assets must exceed the expected return from holding foreign assets. C) the return from holding domestic assets must be less than the expected return from holding foreign assets. D) the return from holding domestic assets must be greater or less than the expected return from holding foreign assets.
The international organization most responsible for rising prices during the 1970s was
a. the WTO. b. OPEC. c. the CIA. d. the World Bank. e. the Trilateral Commission.