Technological changes that increase the productivity of skilled workers relative to that of unskilled workers are referred to as:
A) skill-biased technological changes.
B) labor-saving technological changes.
C) unskilled-biased technological changes.
D) labor-complementary technological changes.
A
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Which of the following is NOT a result of a temporary fall in foreign demand on one country's exports under floating exchange rate?
A) The DD curve shifts to the left due to reduction of aggregate demand. B) The AA curve shifts downwards due to reduction of money supply. C) a fall in aggregate output D) depreciation in home country's currency E) a fall in the home interest rate
A Midwestern wheat farmer faces a horizontal demand curve because
a. it is so large relative to the market as a whole that it has no impact on market price b. it is so small relative to the market as a whole that it has no impact on market price c. it produces a good for which there are no substitutes d. it produces a good for which there are no complements e. it produces a good that no other firm in the industry produces
Which factor receives the profit from production?
a. land b. labor c. capital d. entrepreneurship
In the United States, control of the quantity of money is given to the:
A. Federal Reserve System. B. Department of the Treasury. C. Bureau of Printing and Engraving. D. President.