In the classical model, a falling demand for labor will
a. not cause unemployment because the labor market always clears
b. cause a recession with lower employment and a lower real wage
c. cause a recession with lower employment and an increasing real wage
d. cause a recession with lower unemployment and a lower real wage
e. cause a recession with higher employment and an increasing real wage
A
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In the United States, the poorest 20 percent of households receive about ________ percent of total income
A) 15 B) 20 C) 3 D) 49 E) 23
Which of the following would cause the supply of dollars curve in the United States to shift to the right?
a. Japanese imports become less popular. b. The value of the dollar falls. c. The supply of dollars decreases. d. Japanese imports became more popular.
The median voter model predicts that
A) both candidates in a two-person race will definitely move toward the middle of the political spectrum as the election approaches. B) the candidate (in a two-person race) closer to the middle of the political spectrum (closer to the median voter) on election day will win the election. C) conservatives have a higher probability of winning elections than liberals. D) liberals have a higher probability of winning elections than conservatives. E) voters will often be rationally ignorant of important political issues.
People who complete college provide a signal to employers about their skills and thus face better employment opportunities than equally skilled high school graduates. This is called:
A. the learning effect of a college education. B. the signaling effect of a college education. C. the discriminatory effect of a college education. D. None of these