Increases in international trade and technological change have been offered as explanations for the
a. increase in demand for both skilled and unskilled workers in the United States.
b. increase in demand for skilled workers and decrease in demand for unskilled workers in the United States.
c. decrease in demand for skilled workers and increase in demand for skilled workers in the United States.
d. decrease in demand for both skilled and unskilled workers.
b
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Private markets will not provide the efficient quantity of a public good because
A) of the principle of minimum differentiation. B) public goods are rival and excludable. C) of rational ignorance. D) of the free-rider problem.
Refer to Figure 27-10. In the graph above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could Congress and the president use to move the economy to point C?
A) buy Treasury bills B) increase income taxes C) increase government spending D) decrease the discount rate