Air-traffic controllers get paid high wages given their level of education. They also get frequent breaks and may only work a few days a week. Which of the following could explain their high wage?
a. the long breaks and limited work days
b. the stress they face
c. the comparatively low level of education required
d. All of the above are correct.
b
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When the Federal Reserve calls in a discount loan from a bank, the monetary base ________ and reserves ________
A) remains unchanged; decrease B) remains unchanged; increase C) decreases; decrease D) decreases; remains unchanged
If Japan has a comparative advantage over Canada in the production of computers, which of the following must be true?
a. Supply of unskilled labor in Japan is higher than that in Canada. b. Japan incurs a lower input cost in the production of computers. c. Japan incurs a higher input cost in the production of computers. d. Japan has a lower opportunity cost in the production of computers. e. Japan has a higher opportunity cost in the production of computers.
Unexpected inflation can benefit some people/firms and harm others. This is an example of:
A. unmeasured risk. B. idiosyncratic risk. C. zero risk since the effects balance. D. systematic risk.
The goals of fiscal policy are (1) _______; (2) ________; and (3) ________.
Fill in the blank(s) with the appropriate word(s).