Which of the following is a reason why it is difficult to estimate the extent of economic discrimination in the labor market?
A) Differences in wages can be attributed to many other factors as well, such as differences in productivity and preferences.
B) Ultimately, employers who discriminate cannot remain profitable.
C) Employers who discriminate pay an economic penalty.
D) Employers who discriminate are likely to do so in overt ways such as awarding some workers with benefits-in-kind.
A
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In the IS-MP model, when the Fed increases the real interest rate
A) the MP curve shifts up resulting in a decline in the output gap. B) the MP curve shifts up resulting in an increase in the output gap. C) the MP curve shifts down resulting in a decline in the output gap. D) the MP curve shifts down resulting in an increase in the output gap.
_________________—a term referring to the putting advances in knowledge to use in a new product or service.
a. Production function b. Invention c. Innovation d. Technological change
One reason the decline in asset prices just before and during the 2008 recession undermined the health of the economy is that they:
A. raised the trade deficit when foreigners reduced purchases of U.S. assets. B. led to a contraction in consumer loans because the value of collateral declined. C. raised the value of the dollar making U.S. goods more expensive to foreigners. D. undermined consumer and business confidence.
When countries trade with each other, does it result in a gain for everybody?
A. No. Producers of a good that is imported would be hurt. B. No. Consumers of a good that is imported would be hurt. C. No. Producers of a good that is exported would be hurt. D. Yes. All producers and consumers from both exporting and importing countries will gain.