Deepening human capital involves
a. increasing the number of workers.
b. increasing the number of machines per worker.
c. increasing the levels of education per worker.
d. using more machines than workers.
c. increasing the levels of education per worker.
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Government regulation is
a. subject to the same problems of lack of information and lack of incentives for economic efficiency as centrally planned economies. b. the only reliable way to improve environmental quality. c. not subject to political concerns when it comes to environmental quality. d. the most economically efficient way to reduce greenhouse gases.
Give an example of an oligopolistic market. Explain why it is oligopolist.
What will be an ideal response?
Government programs aimed at stimulating personal savings:
A. increase welfare if people discount the future too heavily. B. decrease economic efficiency if people have impulse control problems. C. help mitigate regression to the mean in most cases. D. are designed to take advantage of the flaws in the availability heuristic.
A growing number of cigar manufacturers in the Caribbean and Central America have begun producing and exporting cigars to the U.S. market. How has this affected the equilibrium price and quantity of cigars?
What will be an ideal response?