If Congress suddenly passes legislation that required all U.S. workers to receive the same annual pay, we would expect
a. a surplus of workers to fill the easy, desirable jobs.
b. less human capital investment.
c. all of the above.
d. a shortage of workers to fill the least desirable jobs.
c. all of the above.
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The graph which represents the distribution of income in an economy is called the
A) Laffer curve. B) Lorenz curve. C) distribution curve. D) aggregate demand curve.
The concept of derived demand indicated that the demand for a final good or service will be determined by the price of the inputs used to produce that final good or service
a. True b. False Indicate whether the statement is true or false
A demand curve displaying the relationship between the price of cars and the quantity demanded of cars should have a slope that is
a. less than 0. b. between zero and 1. c. between one and infinity. d. undefined.
Appreciation of the dollar refers to
A. An increase in the dollar price of foreign currency. B. A loss of foreign exchange reserves. C. Intervention in international money markets. D. A fall in the dollar price of a foreign currency.