High-skilled workers have
A) a lower value of marginal product because they have higher wages.
B) the same labor supply curve as do low-skilled workers.
C) more human capital than do low-skilled workers.
D) None of the above answers is correct.
C
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Total spending by domestic residents, businesses, and governments is called
A) investment. B) net domestic purchases. C) absorption. D) GDP.
In the United States, the Phillips curve in the 1960s:
a. shifted upward dramatically. b. shifted upward moderately. c. remained stable. d. shifted downward moderately. e. shifted downward dramatically.
Which of the following is not a type of trade restriction?
a. low-interest loans to foreign buyers b. export subsidies to domestic producers c. restrictive health and safety standards d. domestic content requirements e. economies of scale
During the 1980s, foreigners expanded their role in the United States as
A. both creditors and owners. B. neither creditors nor owners. C. as owners but not as creditors. D. as creditors but not as owners.