One concern about globalization is that while it may be benefiting ____________ workers in the United States, it may also impose costs on ____________ workers.
a. low-skilled, low-wage; high-skilled, high-wage
b. high-skilled, high-wage; low-skilled, low-wage
c. low-skilled, low-wage; semi-skilled, medium-wage
d. semi-skilled, medium-wage; high-skilled, high-wage
b. high-skilled, high-wage; low-skilled, low-wage
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Suppose the price of gasoline rises and consumers cut back on their use of gasoline relative to other consumer goods. This situation would contribute to which bias in the consumer price index?
a. Substitution bias. b. Transportation bias. c. Quality bias. d. Indexing bias.
A point outside a production possibilities curve indicates
A. an output combination that is unobtainable with the current resource and technology levels. B. that resources are not being used efficiently. C. that resources are being used very efficiently. D. opportunity costs are constant.
It has been argued that banks tended not to take full advantage of issuing notes, thereby passing up potential profits because:
a. the profit amounts were small. b. they were not the types of profits conservative bankers wanted to pursue. c. regulations and opportunity costs involved with the issuance itself limited the profits. d. All of the above are correct. e. Only a and c are correct.
Refer to Exhibit 6-2. The unemployment rate in year 4 is
a. 12 1/2 percent. b. 72 percent. c. 87 1/2 percent. d. 10 percent. e. 90 percent.