When referring to "marginal" changes, the economic focus is on:
A. changes which affect only a few people or products.
B. large changes on the low end.
C. graduated changes on the high end.
D. small or incremental changes.
Answer: D
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Some economists believe that the behavior of unemployment in Europe and in the United States during the 1980s and 1990s
A) was the same because both markets experienced adverse labor market shocks. B) differed because the real wage in Europe was rigid. C) was the same because the real wage in Europe and the United States moved together. D) differed because the United States experienced adverse labor market shocks but Europe did not.
Comparable worth is the principle that:
a. men and women should be paid comparably. b. employees who perform comparable jobs should be paid the same wage. c. the wage rate equals the value of productivity. d. goods and services priced the same have about the same worth.
Subprime mortgages are mortgages given to borrowers with excellent credit
Indicate whether the statement is true or false
Assume that Greece has a comparative advantage in fish and Germany has a comparative advantage in cars. If these two countries specialize and trade according to their comparative advantage
A. all individuals in both countries will benefit. B. Greece will specialize in and export cars. C. Germany will produce more cars than in the absence of trade. D. Germany will produce more fish than in the absence of trade.