As the proportion of women preparing for careers as professionals increases,
a. their years of work experience will become more similar to men.
b. the female/male earnings ratio will rise.
c. their level of human capital will become more similar to men.
d. all of the above.
D
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In the early 1950s the two new factors that stimulated the United States' economy were ___________ and ____________.
Fill in the blank(s) with the appropriate word(s).
Realization of gains from trade, entrepreneurial discovery, and investment are largely dependent on
a. competitive elections and political democracy. b. the presence of institutions and policies consistent with economic freedom. c. the use of tariffs and quotas to protect domestic businesses from competition with foreigners. d. the use of government planning to direct investments into worthwhile projects.
How do the concepts of market failure and failure of market outcome relate to the concept of economic efficiency?
A. Market failure means the economy is not economically efficient; failure of market outcome could happen even if the economy is economically efficient. B. Both market failure and failure of market outcome could happen even if the economy is economically efficient. C. Failure of market outcome means the economy is not economically efficient; market failure could happen even if the economy is economically efficient. D. Both market failure and failure of market outcome mean that the economy is not economically efficient.
If your income rises at 5 percent and inflation has risen at 3 percent, then the purchasing power of your income has
A. increased. B. eroded. C. stayed the same. D. fallen, but will increase due to indexing.