The distribution of income in the United States became more unequal in the 1990s. One explanation for this trend is that advances in information technologies have ________ low-skilled labor and ________ high-skilled labor
A) decreased the demand for; increased the demand for
B) increased the demand for; decreased the demand for
C) decreased the supply of; increased the supply of
D) increased the supply of; decreased the supply of
A
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The table above shows the marginal private benefit, marginal social benefit, and marginal cost of education at the College of Epsilon. What is the tuition that will make the number of students equal to the efficient number?
A) $400 B) $800 C) $2,800 D) $3,200
Which one of the following reduces inequities resulting from the public debt?
a. regressive tax system b. bond purchases by the Federal Reserve c. 30-year Treasury securities d. progressive income tax system e. private savings
An increase in the U.S. price level relative to the price level of U.S. trading partners will cause the aggregate expenditures function in the United States to
a. shift up. b. shift down. c. get flatter. d. get steeper.
If you advertise and your rival advertises, you each will earn $4 million in profits. If neither of you advertises, you will each earn $10 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $1 million and the non-advertising firm will earn $5 million. If you and your rival plan to hand your business down to your children (and this "bequest" goes on forever), then a Nash equilibrium is for each firm to:
A. always advertise. B. advertise until the rival does not advertise, and then not advertise forever. C. not advertise until the rival does, and then to advertise forever. D. never advertise.