Economic theory suggests that the standard of living of American workers would rise if
a. technological setbacks lowered output per worker hour, increasing the number of jobs.
b. the minimum wage were doubled.
c. older workers were forced to retire earlier, opening up jobs for younger workers.
d. the knowledge and skills of workers improved
d. the knowledge and skills of workers improved
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In contrast to the earlier neoclassical models of economic growth, in endogenous growth models, there is more emphasis on
a. human capital. b. externalities. c. increasing returns to scale. d. all of the above.
China is trying to move its banking system from being strictly ________ owned by having them issue shares overseas
A) state B) domestic investor C) depositor D) domestic corporate
In the last half of 1999, the U.S. unemployment rate was about 4 percent. Historical experience suggests that this is
a. above the natural rate, so real GDP growth was likely low. b. above the natural rate, so real GDP growth was likely high. c. below the natural rate, so real GDP growth was likely low. d. below the natural rate, so real GDP growth was likely high.
The Fed can raise the discount rate when it wants to:
A. decrease the money supply. B. increase the money supply. C. decrease the budget deficit. D. increase the budget deficit.