The net export function illustrates that:
a. net exports are a positive function of domestic income.
b. net exports are independent of domestic income.
c. net exports are a negative function of domestic income.
d. exports are a negative function of foreign income.
e. exports are independent of foreign income.
c
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Wages in the United States are higher than those in India primarily because
a. the weather is better in the United States. b. a larger proportion of the labor force is unionized in the United States. c. less capital per employee is required in the United States. d. the human and physical capital of American workers exceeds that of their Indian counterparts.
Using supply and demand to model employment discrimination, if blacks are legally confined to certain professions, then the ________ for workers in these professions is inefficiently ________.
A. supply; high B. demand; high C. demand; low D. supply; low
Refer to Scenario 1-2. Using marginal analysis terminology, what is another economic term for the incremental cost of producing the last 500 cigars?
A) explicit cost B) marginal cost C) operating cost D) Any of the above terms are correct.
In the fall of 2012, more than three years after the end of the recession, the unemployment rate remained just below 8% and nearly half of the unemployed had been out of work for at least six months
Unemployment had been so high for so long, that many economists had begun speaking of the "new normal", in which unemployment rates might be stuck at higher levels for many years. If this "new normal" does materialize, these higher unemployment rates would most likely be the result of ________ unemployment. A) frictional B) cyclical C) structural D) seasonal