Slower real wage growth in the U.S. since the 1970s accompanied by rapid job growth, can be explained by:
A. a productivity slowdown accompanied by a decrease in the labor supply.
B. skill-biased technological change.
C. globalization.
D. a productivity slowdown accompanied by an increase in the labor supply.
Answer: D
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Every Friday night Elizabeth either goes bowling or goes to the movies. Because the price of bowling went up, Elizabeth now sees more movies. Elizabeth's behavior would be best described as a change in which determinant of demand?
a. Price of complementary goods b. Expectations c. Income d. Number of buyers e. Price of substitute goods
Differences in human capital among groups of workers is possibly a reflection of past discrimination
a. True b. False Indicate whether the statement is true or false
When economic or political conditions are unstable,
a. the price of gold rises to $850 per ounce. b. the supply of gold decreases. c. the price of gold decreases. d. the demand for gold increases.
Advertising by monopolistically competitive firms can do all of the following EXCEPT
A) lower the consumer's purchase price. B) help differentiate a firm's product. C) act as a signal to consumers that the company is serious about staying in business. D) result in increased profits for the advertising firm.