Japan's currency is called Yen. The value of Japan's income per capita in dollars is high if ________
A) the value of Japan's income per capita in yen is low
B) the income per capita of the U.S. is high
C) the dollar/yen exchange rate is high
D) the dollar/yen exchange rate is low
C
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In the Spence education signaling model, what is the social value of education?
a. Employees improve their ability to perform on the job. b. Employers can use education as a screen to match talented employees with high-skill jobs. c. Employers can save the costs of on-the-job training, which is less efficient than a general education. d. It allows low-ability employees to apply for high-salary jobs.
Macroeconomics is the study of
a. how wages are determined in a specific labor market b. how to use the fewest natural resources to produce public goods c. what is happening in the economy as a whole d. how consumers and producers interact in individual markets e. the price and the quantity exchanged in a market