Skill-biased technological change increases wage inequality by altering the ________ high-skilled workers relative to low-skilled workers.
A. reservation price of
B. supply of
C. demand for
D. mobility of
Answer: C
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What happens to the equilibrium price and quantity of automobile tires if rubber prices increase and the price of automobiles falls?
A) The equilibrium price rises, but the change in equilibrium quantity is unknown. B) The equilibrium price and quantity decrease. C) The equilibrium price falls, but the change in equilibrium quantity is unknown. D) The equilibrium price and quantity increase. E) The equilibrium quantity decreases, but the change in equilibrium price is unknown.
The positive effect of having more potential volunteers resulting in a greater likelihood of a beneficial outcome is known as the
A) diffusion effect. B) externalizing effect. C) group dynamic effect. D) size effect.
In the table above, if the cost of capital is $20 per day and an hour of labor is $15 per day, which method is economically efficient?
A) A B) B C) C D) D
In official government statistics, the GDP deflator is actually calculated using:
A. a method called a chain-weighted index. B. the ratio of nominal GDP to real GDP from the year before it. C. a simpler approach, so the results are easily comparable. D. the value of a market basket that households typically purchase.