Studies generally show that if there is more investment in capital goods in DVCs, there will be greater:
A. Capital flight
B. Economic growth
C. Underemployment
D. Unemployment
B. Economic growth
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An example of moral hazard is
a. A taxi driver paid per mile taking the shortest route b. a piece-rate garment worker shirking more than a per hour worker c. an hourly salesman working harder than a commission salesman d. an author on contract going to fewer book signings as one with a percentage royalty rate
John Steinbeck's Cannery Row describes a character who takes his own life because of poor job prospects. If he was an unemployed person who gave up looking for work, he would be considered:
a. chronically unemployed. b. a discouraged worker. c. a member of the labor force. d. frictionally unemployed.
The number of workers hired by a firm at a specific wage rate can be determined if you know the
a. price of the good b. supply curve of labor c. MPP of labor d. MLC (marginal labor cost) e. MRP of labor
To prevent inflation caused by holding so much foreign currency, China must
A. Allow the yuan to float with supply and demand and cause it to depreciate. B. Allow the dollar to float. C. Allow a floating yuan to cause it to appreciate. D. Fix its exchange rate lower.