The introduction of word processing software that increases the demand for workers with computer skills relative to those without such skills is an example of:
A. skill-biased technological change.
B. increasing reservation prices.
C. the diminishing marginal product of labor.
D. globalization.
Answer: A
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According to this Application, one solution proposed to deal with the rising expenses of government entitlement programs is to raise taxes. An increase in taxes to help cover the rising expenses of entitlement programs would
A) increase aggregate demand, shifting the AD curve to the left. B) decrease aggregate demand, shifting the AD curve to the left. C) decrease aggregate demand, shifting the AD curve to the right. D) increase aggregate demand, shifting the AD curve to the right.
Refer to the scenario above. What is the sum of the payoffs to the firms if both the firms choose Strategy X?
A) 6 B) 0 C) 1 D) -1