The major labor market problem in the United States is ________ and in Western Europe the problem is ________.
A. increasing wage inequality; increasing wage inequality
B. increasing wage inequality; high persistent unemployment
C. high persistent unemployment; low average wages
D. high persistent unemployment; increasing wage inequality
Answer: B
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For the money expansion process to produce the maximum potential multiplier effect
A) all loans of a given bank have to be deposited in that bank. B) the Fed has to sell government bonds to back up the loans. C) the required reserve ratio has to be 100 percent. D) all loans from banks have to be redeposited throughout the banking system.
Consumption depends on:
A. total income. B. disposable income. C. pre-tax income. D. Consumption is unrelated to income.
The current surplus of the Social Security system is expected to become a deficit sometime around 2018 because the
a. payroll tax rate is scheduled to decline at that time. b. number of workers relative to the number of Social Security recipients will decline as the baby boom generation moves into the retirement phase of life. c. stock market is not expected to perform nearly as well during the next two decades as was the case during the 1980s and 1990s. d. growth rate of the U.S. economy is expected to slow during the next two decades.
The demand for shoes is ________ than is the demand for sneakers because ________.
A. more price elastic; the scope of the market for shoes is more broadly defined B. less price elastic; the scope of the market for shoes is less broadly defined C. more price elastic; the scope of the market for shoes is less broadly defined D. less price elastic; the scope of the market for shoes is more broadly defined