Technological change that affects the marginal products of high-skilled and low-skilled workers differently is called ________ technological change.
A. high-low
B. capital-labor
C. skill-biased
D. marginal-productivity
Answer: C
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Rational inattention refers to ________
A) the risk a firm runs when they do not pay attention to their customers B) firms making infrequent price decisions because of the time and effort those decision require C) the cost to the firm of losing sales from alienating customers D) all of the above E) none of the above
In the following index: 2003 = 123.3; 2004 = 145.3; 2005 = 111.4; 2006 = 100; 2007 = 94.3, what is the rate of change from 2006 to 2007?
a. 5.7% b. 5% c. 4.3% d. 2.5% e. unable to determine
Forming a cartel is illegal in _____
a. the United States b. Canada c. India d. Australia
Refer to the accompanying figure. A decrease in supply is represented by a shift from:
A. curve C to curve D. B. curve A to curve B. C. curve D to curve C. D. curve B to curve A.