Over the last three decades the "college premium" has ________ because of ________.
A. increased; technological advances
B. decreased; technological advances
C. increased; racial and gender discrimination
D. decreased; laws that prohibit discrimination
Answer: A
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Governments of market-oriented economies never tamper with the price mechanism.
Answer the following statement true (T) or false (F)
An economic expansion rather than a recession occurs
A) when the federal budget is balanced. B) when the unemployment rate falls below 5 percent. C) when growth in real GDP is positive. D) when the unemployment rate is not changing.
The classical model assumes that
A) imperfect competition predominates in most markets. B) people have money illusion. C) wages and prices are flexible. D) wages are flexible but prices are not.
What was not a significant cause of the Great Depression?
a. Bank failures b. Stock market crash c. Government fiscal and monetary policy d. Large increase in imports that took jobs away from American workers