Education increases the stock of which factor of production?
A. physical capital
B. entrepreneurship
C. land
D. human capital
Answer: D
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 0d and that it is 0u in country B.) What result would indicate that worldwide output is increased as a result of migration?
A. Area aced> area qsut
B. Wage rates have increased in both countries
C. Domestic output has increased in both countries
D. The share of domestic output paid as business income increases in both countries
Refer to Table 13-4. Victoria's profit-maximizing output is where
A) total profit equals $3. B) marginal revenue and marginal cost both equal $4. C) marginal cost is at its minimum value. D) marginal revenue and marginal cost both equal $3.
Reserve requirements are set by
A) the Secretary of Treasury. B) the President. C) Congress. D) the Fed.
The Lorenz curve shows the distribution of
A. wealth. B. income. C. poverty. D. jobs.