In the U.S., each additional year of schooling has historically raised a person's wage on average by about
a. 5 percent. In less developed countries the gap between the wages of educated and uneducated workers is smaller.
b. 10 percent. In less developed countries the gap between the wages of educated and uneducated workers is smaller.
c. 5 percent. In less developed countries the gap between the wages of educated and uneducated workers is larger.
d. 10 percent. In less developed countries the gap between the wages of educated and uneducated workers is larger.
d
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If there are no changes in inflation expectations, a sale of government bonds by the Fed in the open market will cause ________
A) both the federal funds rate and long-run expected real interest rate to rise B) both the federal funds rate and long-run expected real interest rate to fall C) the federal funds rate to fall and the long-run expected real interest rate to rise D) the federal funds rate to rise and the long-run expected real interest rate to fall
The labor force participation rate is percentage of the ________ who are in the labor force
A) people under age 65 B) working-age population C) people over age 16 D) population