Education raises wages because the demanders of labor
a. are willing to pay more for highly educated workers who have higher marginal products and the suppliers of labor are willing to pay the cost of becoming educated only if they are rewarded.
b. are willing to pay the cost of becoming educated only if they are rewarded and the suppliers of labor are willing to pay more for highly educated workers who have higher marginal products.
c. require fewer workers if they are highly educated.
d. None of the above is correct.
a
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Which of the following exchange rates between the dollar and the peso would an American buyer of Mexican goods most prefer?
A) $0.10 = 1 peso B) $0.08 = 1 peso C) $0.06 = 1 peso D) $0.04 = 1 peso
Refer to the above figure. Unexpected expansionary monetary policy has caused the aggregate demand curve to shift to AD2. In the long run
A. the unemployment rate will be larger than the rate before the expansionary monetary policy. B. the unemployment rate will be the same rate as before the expansionary monetary policy. C. the unemployment rate will be smaller than the rate before the expansionary monetary policy. D. the unemployment rate can increase or decrease depending upon how much the LRAS will shift.
If market interest rates rise, the selling price of existing bonds in the market will, ceteris paribus,
A. Not change. B. Rise. C. Fall. D. Change unpredictably.
Referring to Figure 19.1, the dollar is likely to appreciate if the exchange rate is either ________ or ________ pesos to the dollar
A) 10; 11 B) 11; 12 C) 12; 13 D) 13; 14