Author Question: Skilled labor commanded a higher wage than unskilled labor in both the U.S. and Europe between 1789 ... (Read 90 times)

abc · **on:** Jun 30, 2018

Skilled labor commanded a higher wage than unskilled labor in both the U.S. and Europe between 1789 and 1860 . However, skilled wages in the U.S. were higher, on average. A higher land to labor ratio in the U.S.

can explain the higher wage rates of skilled workers in the U.S. Indicate whether the statement is true or false

Question 2

Assuming the Federal Reserve is targeting the interest rate, a decrease in money demand will

a. shift the LM schedule to the right.
b. shift the LM schedule to the left.
c. shift the IS schedule to the right.
d. not shift the LM schedule.
e. none of the above.