Which of the following statements is true?
a. Income earned by a worker with a college degree grows more rapidly than a worker without a college degree during their early working years.
b. A worker with a college degree always earns less than a worker without a college degree.
c. A worker with a college degree always earns more than a worker without a college degree.
d. A worker without a college degree initially earns more than a worker with a college degree but the latter surpasses the former in due course of time.
e. Both the workers earn equal incomes after a certain period of time.
d
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The United States, as it began its long and successful growth in the early 19th century, consciously promoted domestic production through such activities as tariffs, Clay's American System, and many direct subsidies to railroads, canal companies,
farmers (free land) etc. Today we view this blatant example of large scale and extensive import-substitution industrialization as having been very successful. Comment on this.
In order to protect key industries, some countries impose taxes on their exports instead of imports, mainly because it is easier to collect taxes from the export industry
a. True b. False Indicate whether the statement is true or false
When describing the opportunity cost of two producers, economists use the term
a. natural advantage. b. trading advantage. c. comparative advantage. d. absolute advantage.
The New Keynesian transmission mechanism for monetary policy is characterized by
A) helicopter drops of money. B) money having an impact on the real interest rate. C) banks using money injections for business loans. D) the government buying goods with fresh money.