Which of the following do economists believe is the main cause of the growing wage gap between high-skilled and low-skilled workers?
a. employer-sponsored retraining programs
b. reductions in unemployment benefits
c. antiunion legislation
d. advances in technology
d. advances in technology
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The U.S. trade deficits of the 1980s and 1990s may represent a problem because they will require
a. higher consumption in the future in order to increase imports. b. lower consumption in the future in order to repay interest and principal to foreigners. c. lower consumption in the future in order to finance increased investment. d. higher budget deficits in the future in order to increase the trade surplus.
In this economic growth and production possibilities curve, how much more food can a country produce on the new curve compared to the old curve if it produces no housing on either one?
a. 7 units
b. 10 units
c. 40 units
d. 80 units
The "New Deal" measures introduced in 1933 and 1934 to end the depression
(a) brought about almost complete recovery by the mid-1930s. (b) were not completely successful in ending the Depression, which lasted until the beginning of World War II. (c) actually interfered with recovery, and the Depression worsened in the mid-1930s. (d) were not very successful at first but finally ended the Depression by the late 1930s.
If a commercial bank is short of reserves, it can obtain funds by
a. recalling loans. b. borrowing from another commercial bank. c. borrowing from its Federal Reserve Bank. d. all of these methods.