Two explanations for increasing wage inequality are ________ and ________.
A. increased labor supply; a slowdown in productivity growth
B. technological progress; a modernized capital stock
C. increased worker mobility; transition aid
D. globalization; skill-biased technological change
Answer: D
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The long-run supply curve for a firm in a perfectly competitive industry is:
A) negatively sloped. B) positively sloped. C) vertical. D) horizontal.
When a government has a large budget deficit, it must issue government bonds to finance the deficit. Explain if it matters for the rate of inflation if the government sells the bonds to the public or sells the bonds to the central bank?
What will be an ideal response?
How did the AFL feel about unskilled noncraft workers?
a. It was threatened by their low wages. b. It felt sympathy for them. c. It was unconcerned about them. d. It hoped to make them new members. e. It resented their high MRP.
Which of the following is binding?
a. QD
b. QS
c. WE
d. WMIN