Which of the following is a labor resource?
A. a computer
B. a computer programmer
C. a piece of software used by a firm
D. silicon (sand) used to make computer chips
Answer: B
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The above figure shows the demand and supply curves for housing in City B. What would be the effects of a rent ceiling equal to $1000 per month?
A) a surplus equal to 3000 apartments B) a surplus equal to 250 apartments C) a shortage equal to 3000 apartments D) nothing because the rent ceiling has no effect on the equilibrium price and quantity
Consider two economies: A and B that are completely similar, except their savings rate. The savings rate in economy A is greater than the savings rate in economy B. Which of the following statements is true?
A) Capital accumulation will be faster in economy B in comparison to economy A. B) Capital accumulation will be faster in economy A in comparison to economy B. C) Rate of capital accumulation will be the same in both economies. D) Growth rate in country B is likely to be higher than the growth rate of country A in the long-run.
Depository institutions undertake all the following activities EXCEPT they do not ________
A) print money B) minimize the cost of monitoring borrowers C) pool risk D) create liquidity
In theory, the long-run supply curve for perfectly competitive market firms who are identical is:
A. downward sloping. B. perfectly elastic. C. upward sloping. D. perfectly inelastic.