Which of the following does not describe the hypothesis that changes in technology have altered the relative demand for skilled and unskilled labor?
a. Firms rely more on computer databases than on paper filing systems so there is an increased demand for high-skilled computer programmers.
b. Consumers can accomplish many simple banking tasks on an automated teller machine (ATM) rather than speaking to a bank teller so there is a decreased demand for low- skilled bank tellers.
c. Transponders in peoples' vehicles can be used to automatically deduct tolls from debit accounts, reducing the need for low-skilled toll collectors.
d. Improvements in technology have made tax preparation software easy for an average citizen to use, reducing the need for high-skilled accountants.
d
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A decision by foreign central banks to sell their holdings of U.S. Treasury bonds will
A) lower bond prices and interest rates in the United States. B) increase bond prices and lower interest rates in the United States. C) lower bond prices and increase interest rates in the United States. D) increase bond prices and interest rates in the United States.
A regressive tax structure is one: a. in which the tax rate increases as the base increases
b. in which the tax rate remains the same as the base increases. c. that tends to discourage additional work as income rises. d. that is famous and in use in the U.S. e. in which the tax rate increases as the base increases.
The slope of the PPF can be expressed as:
a. the ratio of abundance of capital to labor. b. the preferences of consumers in terms of marginal utility. c. the ratio of the quantities of good 1 and good 2. d. the negative of the ratio of the marginal products of labor in producing each good
If inflation is highly volatile, money is:
A. less valuable because its unit of account function is reduced. B. more valuable because its unit of account function is reduced. C. more valuable because you need more of it. D. less valuable because there is less of it.