The most common type of investment in human capital is
A. expanded years of schooling.
B. having more children per family.
C. improved health care and maintenance.
D. the migration of labor in search of better jobs.
Answer: A
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The two most important factors contributing to increased productivity in industrialized countries in the twentieth century were:
A. technological progress and increases in the capital stock. B. higher relative prices and technological progress. C. higher relative prices and a larger labor supply. D. technological progress and increases in the labor supply.
Which one of Linda’s transactions is part of the factor market?
a. She buys gas to drive to work. b. She pays for a massage. c. She receives a check for profits from her investments. d. She gets birthday cash from her Aunt Reva.
As the price level ________, the purchasing power of money ________.
A. increases; increases B. increases; decreases C. decreases; decreases D. decreases; stays the same
A measure of sensitivity or responsiveness to changes in price or income is called:
a. elasticity. b. technology. c. supply and demand. d. social pressure. e. kickback.