Human capital includes investments in education and skills.
Answer the following statement true (T) or false (F)
True
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The figure below shows Ava's demand curve for days in the hospital. The marginal cost of an additional day in the hospital is $200. If Ava had to pay the entire marginal cost of spending a day in the hospital, then she would choose to stay ________ day(s).
A. 0 B. 2 C. 3 D. 1
Which of the following is likely to be a benefit of foreign investment in a developing country?
a. Domestic firms are subjected to foreign competition b. Labor-intensive industries grow quickly c. New technology is adapted d. The natural rate of unemployment falls to zero e. The rate of inflation declines
"Take thou no usury of him, or increase, but fear thy God, that thy brother may live with thee" (Leviticus 25:36). Thus biblical instruction was the foundation for usury laws, both ancient and modern, and to an economist represent an early example of
a. price floors b. price ceilings c. target prices d. deficiency payments e. market-determined prices
If fears of a terrorist attack are widespread and people lose faith in money, the economy could revert to a system of
a. cash and checks. b. double-entry bookkeeping. c. barter. d. financial intermediaries.