Compensating wage differentials:
A. refer to the wage premium given to domestic-born workers.
B. refer to the wage premium necessary to attract illegal immigrant workers.
C. discourage illegal immigrants from entering low-wage labor markets.
D. will attract U.S. workers to undesirable jobs if the differential over less unpleasant work is
sufficiently high.
Answer: D
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What restricts the Fed's ability to write checks and purchase U.S. securities?
a. Congress; the Fed must receive a budget allocation from Congress before it can write a check. b. The gold requirement; the Fed cannot write a check unless it has a sufficient amount of gold to back the expenditure. c. Reserve requirements; the Fed must maintain 20 percent of its assets in the form of cash against the deposits that it is holding for commercial banks. d. Nothing; the Fed can create money simply by writing a check on itself.