All industrialized countries have become "service economies" in recent decades. Explain the reasons behind this shift
To a considerable degree, this shift to services reflects the arrival of the "Information Age." Activities related to computers, to research, to the transmission of information by teaching and publication, and other information-related activities are providing many of the new jobs. Technological change has also made it possible to produce more and more manufactured products using fewer and fewer workers. Such labor-saving innovation in manufacturing has allowed a considerable share of the labor force to move out of goods-producing jobs and into services.
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The trough of a business cycle occurs when ________ hits its lowest point
A) inflation B) the money supply C) aggregate economic activity D) the unemployment rate
In the market for used cars, if there is asymmetric information yet all cars sell for the same price
A) there is an efficiency problem and there are equity implications. B) there is no efficiency problem, but there are equity implications. C) buyers of lemons win at the expense of buyers of good cars. D) there is no efficiency problem and there are no equity implications.
An individual in the labor force whose employment was involuntarily terminated is
A) a job leaver. B) a job loser. C) a job reentrant. D) part of the PPI.
The immediate impetus for the establishment of the Federal Reserve System came from
a. severe outbreaks of inflation in the early 1900s. b. four severe banking panics between 1873 and 1907. c. the discovery of gold in Alaska. d. the desire to copy the founding of the Bank of England.