Which of the following is an example of a compensating wage differential?
A) Workers in a dynamite mine receive higher wages than if they worked in other jobs that require the same level of skills.
B) Nurse anesthetists are paid less than anesthesiologists (who have medical degrees).
C) In the market for lawyers, top graduates from the top programs earn starting salaries that are significantly higher than the starting salaries earned by lower-ranked graduates from the lower-ranked programs.
D) Popular movie stars like George Clooney command much higher salaries than other talented but lesser-known actors.
A
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The amount of checkable deposits in an economy cannot exceed the amount of currency that the government has issued
a. True b. False Indicate whether the statement is true or false
Today the primary organization that countries use to negotiate trade issues is
a. the World Trade Organization. b. the General Agreement on Tariffs and Trade. c. the United Nations. d. the European Union.
Crowding in is the result of
A. Rising unemployment. B. Rising government borrowing. C. Falling interest rates. D. Declining business confidence.
If the U.S. inflation rate increases unexpectedly and government revenues, expenditures, and nominal interest rates remain unchanged:
A. both the U.S. real and nominal budget deficits decreases. B. only the U.S. real budget deficit increases. C. both the U.S real and nominal budget deficits increases. D. only the U.S. real budget deficit decreases.