Questions Class 24

Questions Class 24 - 2 According to the data the period in...

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Econ 101 Class 24 Questions 1. Econ 101 M. Salemi Econ 101 M. Salemi The Effect of Skill The Effect of Skill -Biased Technological Biased Technological Change on Wage Inequality Change on Wage Inequality Real Wage Unskilled workers Skilled workers D’ D’ S D S D Which of the following statements correctly describes the previous demand and supply diagrams? The diagrams show how an improvement in technology will … A. Raise the demand for high and low skilled labor. B. Lead to higher unemployment of skilled workers who are replaced by the technology. C. Increase the wage gap between high and low skilled workers. ** D. Lead to higher employment of workers generally.
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Unformatted text preview: 2. According to the data, the period in which borrowing money was the least expensive was: A. The 1960’s B. The 1970’s ** C. The 1980’s D. The 1990’s 3. Which of the following changes will raise the equilibrium rate of interest? A. An increase in household saving due to the aging of baby boomers. B. A increase in U.S. exports. C. A decrease in the U.S. government budget deficit. D. A decrease in saving by firms. ** Real Rate of Interest-8.00-4.00 0.00 4.00 8.00 12.00 16.00 Jan-59 Jan-63 Jan-67 Jan-71 Jan-75 Jan-79 Jan-83 Jan-87 Jan-91 Jan-95 Jan-99 Jan-03 Date Percent...
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