In recent years, information technology such as computers and scanners have been a ________ for low-skilled labor and have led to ________ wage rates for low-skilled workers
A) substitute; higher
B) substitute; lower
C) complement; higher
D) complement; lower
B
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Sticky prices are a direct result of the kinked demand curve.
Answer the following statement true (T) or false (F)
The price system is constantly sending __________ and ___________ thousands of signals.
Fill in the blank(s) with the appropriate word(s).
If nations erect tariffs and quotas to restrict trade, what is likely to happen to predicted values of currencies drawn from the purchasing power parity theory?
A. They will be understated for tariffs and overstated for quotas. B. They will be overstated for tariffs and understated for quotas. C. They will be the correct values. D. They will be incorrect.
In the textbook model of endogenous growth, long-run output growth would decline if there were either a ________ in the saving rate or a ________ in the depreciation rate.
A. rise; fall B. fall; fall C. fall; rise D. rise; rise