People who complete college provide a signal to employers about their skills and thus face better employment opportunities than equally skilled high school graduates. This is called:
A. the learning effect of a college education.
B. the signaling effect of a college education.
C. the discriminatory effect of a college education.
D. None of these
Answer: B
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High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $70?
A. 3 B. 4 C. 1 D. 2
Explain what is meant by the phrase "a bank's balancing act."
What will be an ideal response?
Which of the following countries had a major financial crisis in 1994?
a. Malaysia b. Russia c. Mexico d. The United States e. Singapore
Which of the following is true?
a. Specialization and trade leads to mutual gains for countries. b. Protectionism (i.e., policies that limit trade in certain goods) promotes both economic prosperity and greater employment. c. Countries that have a lot of resources, like the United States, are always hurt by trade. d. Countries will have a higher standard of living when they produce as many goods as possible domestically.