Which of the following statements presents accurate information about antebellum wages for males employed in manufacturing?
a. During the 1850s, real wages doubled.
b. Real wages were higher and grew more rapidly in New England than in the Middle Atlantic states.
c. Wage rates converged in the mid-1800s due to transportation improvements.
d. Wage rates in the 1820s were higher in rural areas than in urban areas.
c. Wage rates converged in the mid-1800s due to transportation improvements.
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According to the adaptive expectations theory, after many years of rising prices, people tend to ignore past experience in predicting the future rate of inflation
a. True b. False Indicate whether the statement is true or false
Which of the following is motivated by an efficiency concern?
A) In December 2006, the Bush administration restarted a short-term housing assistance program for victims of Hurricane Katrina. B) Each year, the University of Notre Dame conducts a lottery to parcel out the 30,000 seats available to contributors, former athletes, and parents in the 80,000-seat stadium. C) The United Network for Organ Sharing advocates a system of rationing scarce kidneys that would favor young patients over old in an effort to wring more life out of donated organs. D) The federal government's housing choice voucher program assists very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market.
According to research by Bertrand and Mullainathan, which job applicants, those with "white" names or those with "black" names, received more calls from interested employers? What percent more?
Monetary neutrality means that a change in the money supply
a. does not change real variables. Most economists think this is a good description of the economy in the short run and in the long run. b. does not change real variables. Most economists think this is a good description of the economy in the long run but not the short run. c. does not change nominal variables. Most economists think this is a good description of the economy in the short-run and the long run. d. does not change nominal variables. Most economists think this is a good description of the economy in the long run but not the short run.