Because skills are costly to obtain, at a given wage rate, the
A) quantity demanded of high-skilled labor is less than the quantity demanded of low-skilled labor.
B) quantity demanded of high-skilled labor is greater than the quantity demanded of low-skilled labor.
C) quantity supplied of high-skilled labor is less than the quantity supplied of low-skilled labor.
D) quantity supplied of high-skilled labor is greater than the quantity supplier of low-skilled labor.
C
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If the consumption function is defined as C = 7,250 + 0.8Y, what is the multiplier?
A) 0.2 B) 0.8 C) 1.25 D) 5
The PIH and LCH theories ________ the case for activism, while the procyclical behavior of consumer spending for durable goods ________ the case for activism
A) supports; supports B) supports; does not support C) do not support; does not support D) do not support; supports