On average, someone with a Bachelor's degree is estimated to earn ____ times more than someone with a high school diploma.
A. 1.4
B: 1.5
C: 1.6
D: 1.7
Answer: C: 1.6
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Refer to Figure 17-1. Suppose that the economy is currently at point A. If the Federal Reserve engaged in contractionary monetary policy, where would the economy end up in the short run?
A) It would remain at point A. B) point B C) point C D) point D E) point E
Which of the following would help control the future growth of healthcare prices and expenditures?
a. an increase in the share of healthcare costs paid for either directly or from personal medical savings accounts b. the substitution of catastrophic (high deductibility) health insurance for low co-payment plans c. more reliance on expansion in the supply of medical services rather than stimulation of demand d. all of the above
An import quota
a. is preferable to a tariff since an import quota does not create a deadweight loss. b. is a tax on imported goods. c. reduces the welfare of domestic consumers. d. reduces the welfare of domestic producers.
Consider a labor market in equilibrium. If both demand curve and supply curve of labor shift to the right, then the number of workers hired in the market will:
A. increase. B. decrease. C. remain unchanged. D. either increase or decrease or remain unchanged.