In the U.S., between 1990 and 2007, capital stock and the level of technology in
ID: 1208339 • Letter: I
Question
In the U.S., between 1990 and 2007, capital stock and the level of technology increased dramatically. During the same period, employment and real wages rose. What do these set of events suggest?
The demand for labor increased by more than the increase in supply of labor over this period.
The demand for labor increased by less than the increase in supply of labor over this period.
The demand for labor decreased while the supply of labor increased over this period.
The demand for labor and the supply of labor decreased over this period.
Suppose economic agents are increasingly concerned about the stability of Thailand's banking system. What is likely to happen in the Thai currency market?
The demand for bahts (Thailand' currency) will decrease.
The supply of bahts will decrease.
Both the demand and supply of bahts will decrease.
Both the demand and supply of bahts will increase.
The demand for labor increased by more than the increase in supply of labor over this period.
The demand for labor increased by less than the increase in supply of labor over this period.
The demand for labor decreased while the supply of labor increased over this period.
The demand for labor and the supply of labor decreased over this period.
Explanation / Answer
The correct answer is option (A). The demand for labor increased by more than the increase in supply of labor over this period.
The correct answer is option (D). Both the demand and supply of bahts will increase.
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