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Author Question: Which of the following is not believed to cause recent increases in wage inequality? A) ... (Read 54 times)

scienceeasy

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on: Jun 30, 2018
Which of the following is not believed to cause recent increases in wage inequality?
 
  A) international trade
  B) contractionary monetary policy
  C) skill-biased technological progress
  D) all of the above
  E) none of the above

Question 2

Explain what factors cause shifts and changes in the slope of the ZZ curve presented in chapter 3.
 
  What will be an ideal response?


1_Step_At_ATime

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

The ZZ curve is upward sloping. The ZZ curve illustrates the level of demand at each level of income. As Y increases, households consume more causing an increase in demand. So, as Y rises, so does demand. The marginal propensity to consume will determine the size of the slope. The ZZ curve will shift when any autonomous component of demand changes. This will include changes in T, G, I and c0.


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