The aggregate supply curve shows the relationship between the aggregate quantity of output supplied by ________ and ________.
A. the world; the money supply
B. the government; aggregate demand
C. domestically owned firms in the economy; the interest rate
D. all the firms in an economy; the overall price level
Answer: D
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When using the principle of comparative advantage, the person with no absolute advantage should perform the job in which he or she has
a. a 50 percent disadvantage. b. a 75 percent disadvantage. c. a lesser disadvantage. d. been trained.
The tax increases necessary to fund future Social Security and Medicare benefit payments would be
A) small, but could discourage work effort, entrepreneurship, and investment, thereby slowing economic growth. B) large, but would have little effect on economic growth. C) large, and could discourage work effort, entrepreneurship, and investment, thereby slowing economic growth. D) small, and have little effect on economic growth.
According to Kathryn Edin and Laura Lein, virtually all poor single mothers supplemented their income with money from _______________________.
Fill in the blank(s) with the appropriate word(s).
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.