A "two-tier" labor market in the United States refers to plenty of jobs for ________ workers and few jobs for ________ workers.
A. old; young
B. highly-skilled; unskilled
C. unskilled; highly-skilled
D. eastern; western
Answer: B
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Large differences in interest rates between countries would indicate that
A) the global market is thriving. B) there is good communication between countries about potential global investment opportunities. C) there are unrealized gains from trade. D) the market is in danger of collapse. E) the supply growth exceeds the aggregate demand.
The holdout problem occurs when _____
a. unanimity rule is required for any Congressional action b. free riding is prevalent c. individuals drafted into the military refuse to report d. any individual has the power to prevent collective action
If regulators required firms in monopolistically competitive markets to set price equal to marginal cost,
a. firms would respond by lowering their costs. b. firms would require a subsidy to stay in business c. new firms that enter the market would operate at efficient scale. d. the most efficient firms would not be affected.
A farmer has 500 acres on which he has previously grown corn. His yield per acre is 100 bushels of corn. If his production flexibility contract payment is $21,250, then what is the corn payment rate?
A) $0.45 B) $0.67 C) $0.50 D) $0.10 E) There is not enough information to answer the question.