In the United States globalization has played:
A. a significant role in growing income disparity because foreign workers' incomes have risen.
B. little role in growing income disparity because while some jobs were lost, the gain in jobs balanced out those that were lost.
C. a significant role in growing income disparity because some sectors have benefited and others have not.
D. little role in growing income disparity because all Americans are consumers who have enjoyed lower prices.
Answer: C
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A movement from an upper point to a lower point on the Phillips curve shows
A. decrease in the inflation and decrease in the unemployment. B. increase in the inflation and decrease in the employment. C. increase in the inflation and increase in the employment. D. decrease in the inflation and increase in the unemployment.
All firms in a competitive industry have the following long-run total cost curve:
C(q) = q3 – 10q2 + 36q where q is the output of the firm. a. Compute the long run equilibrium price. What does the long-run supply curve look like if this is a constant cost industry? Explain. b. Suppose the market demand is given by Q = 111 – p. Determine the long-run equilibrium number of firms in the industry.
Which of the following will not cause a shift in the demand curve for good X?
a. A change in the price of a complementary good. b. A change in the price of good X. c. A change in consumer tastes and preferences for good X. d. An increase in consumer income.
Moral hazard encourages people to take risks
a. True b. False Indicate whether the statement is true or false