________________: the practice of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.
Fill in the blank(s) with the appropriate word(s).
Answer: Logrolling
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How are skilled and unskilled workers in an economy likely to be affected if firms adopt skill-biased technologies?
What will be an ideal response?
One problem associated with the National Banking System was
a. the perverse elasticity of the money supply. b. the tendency of bank reserves to stay in local communities. c. inadequate backing for national bank notes. d. excessive loans made to farmers.
Economists who study labor markets have documented
a. a general decline in the wages of college graduates over the last decade. b. an increasing trend in U.S. labor markets for employers to pay all costs of education and training. c. a decrease in the earnings gap between low-skill and high-skill workers over the past two decades. d. an increase in the earnings gap between low-skill and high-skill workers over the past two decades.
Which of the following groups does not have an interest in restricting free trade?
A. People who buy the imported product. B. Producers in import-competing markets. C. Communities where workers in import-competing markets live. D. Workers in import-competing markets.