Economists who study labor markets have documented
a. a general decline in the wages of college graduates over the last decade.
b. an increasing trend in U.S. labor markets for employers to pay all costs of education and training.
c. a decrease in the earnings gap between low-skill and high-skill workers over the past two decades.
d. an increase in the earnings gap between low-skill and high-skill workers over the past two decades.
d
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Which of the following is included in M2?
A) U.S. Treasury bonds B) stocks C) savings accounts D) commercial paper
In an open economy, the current account balance equals ________. (Assume that the capital account is zero and net transfers are zero.)
A) net foreign investment + domestic investment B) net foreign investment C) net capital outflows D) the financial account balance + net income on investments
A recession can manifest itself with ________
A) a decrease in consumer spending B) a decrease in industrial production C) a lengthy period of falling GDP D) all of the above E) none of the above
The tax on cigarettes is an example of
a. a consumption tax. b. a corrective tax. c. an income tax. d. a command-and-control policy.