A nation's production possibilities curve [PPC] will shift outward if its workers receive better training
a. True
b. False
Indicate whether the statement is true or false
True
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Give an example of an automatic stabilizer. Explain how automatic stabilizers work in the case of recession
What will be an ideal response?
The price level is 3, total output is 500, and the money supply is 200. The velocity of money is
A) 7.5. B) 2.5. C) 2.0. D) None of the above.
Two jobs have different training requirements, and the job that requires more extensive training currently pays $20 more per hour. The jobs are equivalent in all other respects. If labor is migrating from the job with lower training requirements to the job with greater training requirements, then
a. the equilibrium compensating wage differential is more than $20 per hour b. the equilibrium compensating wage differential equals $20 per hour c. the wage rate will drop for the job with lower training requirements d. the wage rate will drop for the job with greater training requirements e. labor supply will increase for the job with lower training requirements
Market economies have been successful in leading to economic growth because they have:
A. allowed companies that pollute to avoid paying any penalty for doing so. B. taken advantage of increased government subsidies. C. channeled individual efforts toward production and growth. D. ignored private property rights.