In the figure above, if information technologies are introduced that are complements for high-skilled workers and substitutes for low-skilled workers, the wage rate of high-skilled workers will ________ and the wage rate of low-skilled workers will
________. A) rise; fall
B) fall; rise
C) fall; fall
D) rise; rise
A
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Use the following graph to answer the next question.
In the figure, AD1 and AS1 represent the original aggregate supply and demand curves. If Q1 is full-employment output, then AD2 and AS1 represent a(n) ________.
A. full-employment B. price stability C. expansion D. recession
When a country runs a trade deficit,
a. it must be running a budget surplus. b. its imports will become injections instead of leakages. c. its exports will become leakages instead of injections. d. foreigners will demand loanable funds from the country. e. foreigners will supply loanable funds to the country equal to its trade deficit
Changes in government spending and/or taxes as the result of legislation, is called
What will be an ideal response?
Bonds are often referred to as fixed-income securities because:
A. the price you pay for bonds is fixed. B. of the set interest rate. C. they are much more commonly held by retirees. D. they adjust interest payments with the inflation rate.