According to age-earnings data,
A. lower-educated workers have similar earnings at age 65 as higher-educated workers.
B. investments in education result in higher earnings.
C. high earnings are due to motivation and innate ability, rather than education.
D. there is no clear relationship between education and worker productivity.
Answer: B
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In the original Austin Powers, Dr. Evil is cryogenically frozen for thirty years (from the late 1960s to the late 1990s). Upon his return he hatches a plan to extort one million dollars from various world governments. His henchmen are unimpressed
What type(s) of inflation have made Dr. Evil's proposed blackmail amount seem too small? A) cost-push inflation B) both cost-push and demand-pull inflation C) both cost-price and price-pull inflation D) demand-pull inflation
A $2,000 decrease in investment will shift the aggregate expenditures curve down by:
a. exactly $2,000 and will decrease the equilibrium level of real GDP by exactly $2,000. b. exactly $2,000 and will decrease the equilibrium level of real GDP by less than $2,000. c. exactly $2,000 and will decrease the equilibrium level of real GDP by more than $2,000. d. less than $2,000 and will decrease the equilibrium level of real GDP by less than $2,000.
According to the Keynesian model, increased foreign spending for U.S. goods is likely to
a. reduce total employment in the United States. b. increase total employment in the foreign country. c. reduce total output in the United States. d. increase total output in the United States.
If foreign citizens earn less income in the U.S. than U.S. citizens earn in foreign countries,
a. U.S. net factor payments from abroad are positive, and its GDP is larger than its GNP. b. U.S. net factor payments from abroad are positive, and its GNP is larger than its GDP. c. U.S. net factor payments from abroad are negative, and its GDP is larger than its GNP. d. U.S. net factor payments from abroad are negative, and its GNP is larger than its GDP.