Which of the following would increase the gap in wages between skilled and unskilled workers?
A) less technological progress of the kind we've experienced in the past 15 years
B) new types of production technology that require workers to have more skills
C) an increase in the costs of going to college
D) all of the above
E) none of the above
D
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When scarce resources can serve only one user at a time in sequence, which method works well for allocating the scarce resources?
A) first come, first served B) lottery C) contest D) command system
Explain the connection between the price of a financial asset and its interest rate
What will be an ideal response?
One barrier to entry that may maintain an oligopoly is
a. government policy designed to limit foreign competition b. a low minimum efficient scale c. bounded markup pricing d. efficiency wages that make it impossible for new entrants to compete profitably e. executive payoffs
Which of the following groups is associated with the policy recommendation that the money stock should grow only at the rate of growth in real GDP?
A. Monetarists B. Keynesians C. Classical quantity theorists D. Economic behaviorists