The statement "the rich get richer and the poor get poorer" is evident in the fact that
a. the earnings gap between high-skill jobs and low-skill jobs has increased over the last several years.
b. developing countries do not pay workers the value of their marginal product.
c. developed economies export high-skill jobs to developing countries.
d. All of the above are correct.
a
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Research shows that increases in educational attainment leads to higher
A. investment in the stock market. B. per capita GDP. C. prices of goods and services. D. productivity growth rates.
Under the Gramm-Leach-Bliley Act the oversight of the securities activities of bank holding companies belongs to
A) the SEC. B) the Comptroller of the Currency. C) the U.S. Treasury. D) the Federal Reserve.
State the law of demand and illustrate it. Explain what is meant by the term "price" in the law of demand
What will be an ideal response?
Which of the following is a normative economic statement?
a. The unemployment rate for the United States is currently 5.4 percent. b. The inflation rate in the United States is too high. c. An increase in the price of a good will reduce the amount purchased. d. Higher profits in an industry will attract more entrepreneurs into the industry.