If the supply of skilled workers is increased such that it is equal to the supply of unskilled workers, we can expect:
a. wages of skilled workers to be equal to wages of unskilled workers.
b. wages of skilled workers to be lower than wages of unskilled workers.
c. wages of skilled workers to be higher than wages of unskilled workers.
d. wages of unskilled workers to fall from its current level.
e. wages of both skilled and unskilled workers to remain unaffected.
c
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Creditors require collateral in many cases, because
A) it helps offset the risks of lending the funds. B) the borrower is a low risk. C) the loan is small. D) none of the above.
When economists refer to capital, they might mean
a. money b. human skills used in production c. stocks d. bonds e. bank loans
A bank's assets are
A) things owned by or owed to the bank. B) things the bank owes to someone else. C) a measure of the bank's net worth. D) always greater than the bank's liabilities.
Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Assume Mr. Lingle?s budget constraint is AC. He will have leftover income if he purchases the bundle represented by point
A. A. B. B. C. E. D. D.