E-commerce and an internet presence are important to many firms, requiring employees with specialized skills that are in short supply. The invisible hand solves the employment problem by:
A. discouraging firms from using of new technologies such as the internet.
B. giving workers an incentive to acquire the necessary skills on their own in order to receive higher wages.
C. providing free internet access.
D. encouraging the government to set up training programs to provide workers with the necessary skills.
Answer: B
You might also like to view...
Which of the following is NOT a stage of development that modern rich nations have gone through?
A) service stage B) agricultural stage C) manufacturing stage D) inflation stage
Over the last few decades, Americans have chosen to cook less at home and eat more at restaurants. This change in behavior, by itself, has
a. reduced measured GDP. b. not affected measured GDP. c. increased measured GDP only to the extent that the value of the restaurant meals exceeded the value of meals previously cooked at home. d. increased measured GDP by the full value of the restaurant meals.
If the reserve ratio is 10%, and banks do not hold excess reserves, when the Fed purchases $10 million of government bonds, bank reserves
A) increase by $10 million and the money supply could eventually increase by $10 million. B) decrease by $10 million and the money supply could eventually decrease by $100 million. C) increase by $10 million and the money supply could eventually increase by $100 million. D) decrease by $10 million and the money supply could eventually decrease by $10 million
In the last few decades, tariffs in developing countries have:
A. risen by more than 20 percent. B. risen to 20 percent of their GDP. C. fallen to 20 percent of their GDP. D. fallen by more than 20 percent.