Younger workers are:
A. Much more likely to migrate than older workers because younger workers have lower moving costs
B. Much less likely to migrate than older workers because younger workers have more close friends at home
C. Much more likely to migrate than older workers because younger workers have more human capital than older workers
D. Much less likely to migrate than older workers because younger workers do not have as much experience
A. Much more likely to migrate than older workers because younger workers have lower moving costs
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In the short-run, an increase in the price of raw materials will ________ the price level and ________ real GDP
A) raise; increase B) lower; increase C) lower; decrease D) raise; decrease E) raise; not change
The basic difference between a tariff and quota is that:
a. a quota can be imposed both on imports and exports, whereas a tariff can be imposed only on imports. b. a quota yields revenue to the government, whereas a tariff does not yield any revenue. c. a tariff reduces the import of the goods with greater certainty than quota as the amount of import restricted by quota depends on the price elasticity of demand for importable. d. a tariff is a quantitative restriction on imports, whereas a quota is an import duty. e. a tariff raises the price of the product only in the domestic market, whereas with a quota, both domestic and foreign producers receive a higher price.
A manufactured good used by labor to produce another good is
a. capital b. a tangible form of a human resource c. a consumption good as long as it is used by labor d. a form of automation e. human capital
Your scholarship depends on your maintaining a 3.5 cumulative GPA. Your GPA for last semester was 3.6, which brought your cumulative GPA down. What must be true?
A. If this semester's grades are the same as last semester's, your overall GPA will stay the same. B. Last semester's grades were lower than your overall GPA. C. If this semester's grades are the same as last semester's, you might lose your scholarship. D. Last semester's grades were higher than your overall GPA.