When measuring the benefits from investing in human capital
A. we must include the costs of tuition and books but not the money made from part-time jobs.
B. we must include the foregone earnings in the benefit calculation.
C. in addition to the monetary benefits, the benefit from expanding horizons should be included.
D. the only benefits come from the increase in salary because of going to school.
Answer: C
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Frictional unemployment arises when
A) unskilled or low-skilled workers find it difficult to obtain desirable, long-term jobs. B) labor must be reallocated from industries that are shrinking to areas that are growing. C) workers must search for suitable jobs and firms must search for suitable workers. D) output and employment are below full-employment levels.
Equality refers to how the pie is divided, and efficiency refers to the size of the economic pie
a. True b. False Indicate whether the statement is true or false
Which of the following industries is most likely to exhibit the characteristic of free entry?
a. nuclear power b. municipal water and sewer c. dairy farming d. airport security
The poverty rate in the United States is highest for:
A. married couples. B. childless households. C. female headed households. D. single people.