In the above figure, an innovation that increases the demand for high-skilled workers and decreases the demand for low-skilled workers will
A) reduce the amount by which WH exceeds WL.
B) increase the amount by which WH exceeds WL.
C) shift the SH curve leftward.
D) shift the SL curve rightward.
B
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The development of new technology typically:
a. shifts the supply curve to the right. b. reduces profits. c. results in a downward movement along a supply curve. d. increases costs of production. e. shifts the demand curve to the right.
The subject of borrowing by the U.S. from its citizens and from other countries, has resulted in one of the fiercest policy debates in recent years
a. True b. False Indicate whether the statement is true or false
Mallory Trammell is a homemaker. Last week, she was busy with her normal household chores. She is:
A. not a member of the labor force. B. a member of the civilian labor force who is unemployed. C. a member of the civilian labor force who is underemployed. D. a member of the civilian labor force who is employed.
If the marginal propensity to consume (MPC) is 0.60, what is the spending multiplier?
A. 0.4. B. 0.6. C. 2.5. D. 6.0.