The insider-outsider theory implies that:
A. wages are flexible both upward and downward.
B. unemployment quickly reduces market wages.
C. agents pursue their own agendas, sometimes at the expense of principals.
D. wages may be inflexible downward.
D. wages may be inflexible downward.
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It is argued that high-tech industries typically generate new technologies but cannot fully appropriate the commercial benefits associated with their inventions or discoveries
If this is true then in order to maximize a country's real income, the government should A) tax the high-tech firms. B) subsidize the high-tech firms. C) protect the high-tech firms. D) outsource high-tech production. E) discourage high-tech investments.
Economic growth can be obtained
A) by government legislation. B) by a change in the level of inputs or an improvement in technology. C) only through a change in the level of inputs, hence the desire for conquest throughout the history of the world. D) only through a change in technology, which explains the explosive growth of the United States.