The female-male wage gap in the United States
A. will likely change from negative to positive over the next decade.
B. has been increasing over the last 30 years.
C. has been decreasing so much that while a raw wage gap still exists it is quite small.
D. is nonexistent.
E. has been decreasing over the past 30 years.
Answer: E
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The effect of a tariff
A) is negligible since it applies to firms outside the U.S. B) can lead to economies of scale for firms inside the U.S. C) can lead to a monopoly advantage for firms inside the U.S. since they become the sole suppliers inside the U.S. D) will be more beneficial to large firms than to small firms.
If the Fed wishes to raise the interest rate, it will
a. increase the money supply b. decrease the money supply c. increase money demand d. decrease money demand e. simply set a higher market interest rate
If Japan gives up ten bushels of rice to produce one bicycle, while the United States gives up five bushels of rice to produce one bicycle, then
a. the opportunity cost of producing bicycles in the United States is higher than in Japan b. Japan has a comparative advantage in the production of bicycles c. the United States has an absolute advantage in the production of rice d. total output will be greater if the United States specializes in rice and Japan specializes in bicycles e. total output will be greater if Japan specializes in rice and the United States specializes in bicycles
Economic mobility in the United States is
a. uncommon. Over 50 percent of poor families remain poor for 8 or more years. b. uncommon. Over 75 percent of poor families remain poor for 8 or more years. c. common. Fewer than 3 percent of poor families remain poor for 8 or more years. d. common. Fewer than 1 percent of poor families remain poor for 8 or more years.