Studies have shown that in the 1980s the wage gap between college-educated workers and those with high school education or less
A. decreased dramatically.
B. decreased slightly.
C. remained unchanged.
D. widened dramatically.
Answer: D
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Refer to Figure 10.3. A positive demand shock accompanied by a decrease in the real interest rate is best represented by ________ in panel (a) and ________ in panel (b)
A) a shift from AE2 to AE3; a movement from point B to point C B) a shift from AE3 to AE2; a shift from IS2 to IS1 C) a shift from AE1 to AE2; a movement from point A to point B D) a shift from AE1 to AE3; a movement from point A to point C
If an unregulated electric company is a monopolist, faces demand of Q = 100 - 50P, and has constant total costs, the profit-maximizing level of output is
a. 50 b. 100 c. 25 d. 12.5
Which of the following will be required for a country to move up the income ladder and achieve high-income status?
a. rapid growth of the money supply. b. restrictions limiting the import of goods from other nations, particularly low-wage countries. c. tax incentives that encourage consumption rather than investment d. sustained economic growth
The IMF offers loans to developing countries in times of balance of payment constraints, but the IMF also faces strong criticisms because:
A. contractionary fiscal policy and expansionary monetary policy tend to be ineffective against balance of payment constraints. B. contractionary fiscal and monetary policies are always undesirable for any developing country. C. it employs economists that know little about developing countries and their economic affairs. D. the conditions tend to be procyclical, therefore worsening the recessions.