In the IS curve, if Y falls for any given level of the real interest rate ________
A) consumption decreases
B) output increases
C) saving increases
D) all of the above
E) none of the above
A
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Paying a person a lower wage or excluding a person from an occupation on the basis of an irrelevant characteristic such as race or gender
A) violates federal comparable worth laws. B) can be explained by negative feedback loops. C) creates differences in wages that economists call "compensating differentials." D) is economic discrimination.
A country in which a substantial amount of the factories and stores that produce domestic goods and services are foreign-owned is most likely a country in which
A) GDP is much larger than GNP. B) GNP is much larger than GDP. C) GDP is roughly equal to GNP. D) the relationship between GDP and GNP no longer exists.
Capital, K, includes
A) money. B) machinery. C) business loans. D) know-how.
In the specificfactors model, migration of labor will cause:
a. the wage to rise in the receiving country and the wage to fall in the sending country. b. the wage to fall in the receiving country and the wage to rise in the sending country. c. the wage to rise in both the receiving and sending countries. d. the wage to fall in both the receiving and sending countries.