Which of the following factors leads to differences in income across individuals?
a. the level of skills possessed by an individual
b. the quality of human capital and education
c. preferences for work over leisure
d. all of the above
d
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Free trade refers to trade between countries
A) that is licensed by both governments. B) that is without shipping costs. C) of products which are free to low-income consumers. D) that is without restrictions.
Conflicts of interest may arise within the credit rating agencies because
A) the investors pay the credit agencies for ratings. B) the issuers of debt securities pay the credit agencies for ratings. C) the credit rating agencies provide auditing services to issuers of debt securities. D) the credit rating agencies are involved in offering credit counseling to investors.
Which of the following items results in an increase in the economy's measured GDP ceteris paribus?
a. more leisure time b. higher quality goods c. cleaner air d. increased medical expenditures e. reduced workplace accidents
When a country imposes an import quota, its
a. net exports rise and its real exchange rate appreciates. b. net exports rise and its real exchange rate depreciates. c. net exports fall and its real exchange rate depreciates d. None of the above is correct.