Question

1.

Most evidence suggests that greater U.S. trade with other nations has benefited all U.S. workers, but has benefited skilled U.S. workers relatively more by boosting their wages to a larger extent than those of unskilled workers.

Select one:

a. TRUE

b. FALSE

2.

The growth equation is a relationship indicating that the rate of growth in a country's aggregate real income is equal to the sum of three components: (1) the rate of growth of productivity of labor and capital; (2) the contribution to aggregate real income of labor resources multiplied by the rate of growth of labor resources; and (3) the contribution to aggregate real income of capital resources multiplied by the rate of growth of capital resources.

Select one:

a. TRUE

b. FALSE

3.

Economists refer the joint determination of monetary policies by a group of central banks for the intended combined benefit of the nations they represent as international policy cooperation.

Select one:

a. TRUE

b. FALSE

Answer 1

a. True

Most evidences suggest that the workers with more skills are earning relatively more because of the worldwide demand for skilled labour intensive products which indicates the earning inequality in US

b. True

Population and economic growth equation is a relationship indicating that the rate of growth in countries aggregate real income in equal to the sum of

• The rate of growth of productivity of labour and capital
• The contribution to aggregate real income of labour resources multiplied by the rate of growth of labour resources
• The contribution to aggregate real income of capital resources multiplied by the rate of growth of capital resources

c. True

The joint determination of monetary policies by a group of central banks for the intended combines benefit of the nation they represent is called international policy coordination