How does the ratio of CEO pay in the U.S. compare with that ratio in Japan?
A. It is much lower.
B. It is slightly lower.
C. It is slightly higher.
D. It is much higher.
D. It is much higher.
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In the figure above, which movement could be the result of an increase in the wages paid to oil workers?
A) point a to point e B) point a to point b C) point a to point c D) point a to point d
The provision of a legal system is an important economic function of the government because
A) lawyers and judges tend to be high-income people. B) people need to feel safe when they go to work. C) the legal system affects how exchange takes place through its enforcement of contracts. D) the legal system affects the distribution of income through its awarding of damages in accident claims.
In the United States, since the Great Depression, the federal government has: a. run budget deficits only in periods of recession
b. run a budget deficit in almost every year. c. practiced a policy of annually balancing the budget. d. run budget deficits only in wartime. e. run a surplus in most years.
Why is the PPF bowed out in the HeckscherOhlin model?
A. Capital is specific to the production of one good. B. Labor is specific to the production of the other good. C. There are increasing opportunity costs of producing each good. D. Labor is not perfectly mobile between the production of the two goods.