Many economists believe that skill-biased technical change has increased the incomes of highly skilled workers and decreased the incomes of low-skill workers
a. True
b. False
Indicate whether the statement is true or false
True
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Assume that the M1 multiplier is 4. If the Federal Reserve purchases $200 worth of government securities, the money supply will
A) rise by $200. B) rise by $800. C) fall by $200. D) fall by $800.
Given the strict quantity theory of money, if the quantity of money doubled, prices would:
a. fall by half. b. double. c. remain constant. d. increase somewhat but less than double.
Which of the following would cause a firm’s demand curve for labor to shift?
A. The price of a firm’s output changes. B. The wage rate changes. C. The number of available workers changes. D. The wages paid by rival firms change.
Maria has just graduated from Princeton University and has applied for a job at a major bank. The bank decides to offer Maria a job because they perceive her degree from Princeton to be an indication of her high-ability. To which of the following views of education does the bank subscribe?
a. signaling b. human-capital view c. superstar phenomenon d. benefits of beauty