If skilled labor is ___ unskilled labor, then an influx of unskilled immigrants could ____ the demand for skilled labor
a. a substitute for; raise
b. a complement to; raise
c. a complement to; lower
d. a complement to; substitute.
b. a complement to; raise
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The net effect of a devaluation on economic growth depends on the mix of capital and labor utilized in the nation's export industries
Indicate whether the statement is true or false
Consider the above figure. If the aggregate demand fell from AD1 to AD2, our nation would be experiencing
A) an inflationary gap. B) a recessionary gap. C) overemployment. D) rising prices.
High rates of unemployment are undesirable because: a. they cause increased levels of societal tension
b. society loses potential production of goods and services. c. families of the unemployed may find it difficult to survive. d. all of the above.
Workers in which of the following countries are often paid less than the U.S. minimum wage?
a. Italy b. Canada c. Poland d. Japan