If it can be shown that a tariff on steel imports will increase employment in the steel industry, we can be sure that the effect of the tariff on U.S. employment will also be positive
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose y = Ak1/4, the capital-labor ratio is $40,000 per worker, the level of total factor productivity is 800, 70% of the population works, and there are 70 million workers. Real GDP per capita is
A) $3,500.00. B) $5,543.72. C) $7919.60. D) $9,899.50.
Policy makers may not know that the economy is in a recession until six months after the recession starts; this phenomenon is known as the _____
a. implementation lag b. policy coordination problem c. decision-making lag d. recognition lag e. effectiveness lag
Which of the following is true?
a. The proportion of college degrees earned by women has been virtually unchanged during the last four decades. b. There was a substantial increase in the earnings of women relative to men in the 1960s and 1970s following the passage of legislation prohibiting employment discrimination against women. c. The number of women preparing for careers as professionals has declined during the last two decades. d. In 2010, 57 percent of those completing college degrees were women.
According to the concept of framing effects:
A. advertising power is limited because of the inability of firms to change consumers' perspectives. B. all people will assign the same utility to a given situation, regardless of their previous status quo. C. whether a new situation is viewed as a gain or a loss depends on one's starting position. D. firms should never raise prices or reduce wages.