The introduction of word processing software that increases the demand for workers with computer skills relative to those without such skills is an example of:
A. skill-biased technological change.
B. the diminishing marginal product of labor.
C. increasing reservation prices.
D. globalization.
Answer: A
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Whenever you discount a future sum of money into its present value, you must know I. the interest rate. II. the number of years in the future in which the money will be received
A) only I B) only II C) both I and II D) neither I nor II
Which of the following statements concerning the First Bank of the United States is not true?
a. Its goal was to prevent state-chartered banks from overissuing bank notes. b. Its charter lasted 20 years. c. It was the first version of a central bank in the United States. d. It served as the government's fiscal agent. e. It was the first bank chartered in the United States.
Assume that the MPC is .9 and investment falls by $30 billion. What is the change in real GDP?
a. ?$300 billion b. ?$270 billion c. ?$93 billion d. ?$39 billion
Discrimination based on individual characteristics that don't affect job performance:
A. may be profit-maximizing in some cases. B. is not costly to a firm and thus is easy to eliminate. C. is the hardest kind of discrimination to eliminate. D. is costly to a firm, and so market forces will work toward eliminating it.