Globalization and growing technology have produced
A) more opportunities for low-skilled labor than for high-skilled labor.
B) equal opportunities for low-skilled and high-skilled labor.
C) outsized, exponential rewards for superstar talent.
D) rewards for labor that have reduced income inequality.
C
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An expansionary fiscal policy will lead to
A. higher interest rates, an appreciated dollar, and reduced net exports. B. higher interest rates, an appreciated dollar, and increased net exports. C. reduced interest rates, an appreciated dollar, and reduced net exports. D. reduced interest rates, an appreciated dollar, and increased net exports.
In Figure 3-2, a move from a point like B to a point such as D
A. is not possible. B. can be attained with a more efficient allocation of resources. C. can be attained if there is an improvement in technology. D. can be attained if unused resources are put into production.
The original work on the application of the time inconsistency problem in macroeconomics is due to
A) Milton Friedman and Robert Lucas. B) Michael Hutchinson and Carl Walsh. C) Finn Kydland and Edward Prescott. D) Robert Barro and Donald Gordon.
A system in which money is issued by the government and its value is based uniquely on the public's faith that the currency represents command over goods and services is the
A) transactions approach. B) liquidity approach. C) fiduciary monetary system. D) transaction deposits.