Open market operations is conducted by the ________, which is part of the Fed.
Fill in the blank(s) with the appropriate word(s).
Federal Open Market Committee
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In the United States the real wages of the least-skilled, least educated workers have ________ and the wages of best-educated, highest skilled workers have ________.
A. increased; increased B. declined; remained constant C. increased; declined D. declined; increased
Which of the following is not a cost of illegal immigration in the U.S.?
a. The adverse impact on unskilled workers b. The damage to national property caused during the process of immigration c. Additional expenditure on healthcare at emergency clinics and hospitals d. Expenditure on public education on the children of immigrants. e. Expenditure on employment insurance programs for the illegal immigrants.
Subsidies are payments made by the government of a country to:
a. foreign firms to encourage imports from the country in question. b. foreign firms to boost their exports. c. domestic firms to encourage exports. d. domestic firms to encourage imports. e. domestic consumers to encourage consumption of imported goods.
Adam Smith's diamond-water puzzle
a. can be resolved by distinguishing between marginal and total utility. b. occurs because diamonds have no utility. c. occurs because scarcity increases total utility. d. will likely never be resolved with existing economic tools.