Capital widening refers to an increase in the amount of capital per worker, either human capital per worker, in the form of higher education or skills, or physical capital per worker.
Select whether the statement is true or false.
A. True
B. False
B. False
This statement is false. Capital deepening refers to an increase in the amount of capital per worker, either human capital per worker, in the form of higher education or skills, or physical capital per worker.
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Access to the movie "Casablanca," showing in a half-empty theater, is
A) a public good because individuals watch movies together. B) a public good only if the theater is run by the government. C) not a public good because it is a rival good. D) not a public good because it is an exclusive good. E) not a public good because it is both a rival good and an exclusive good.
A university offers a free shuttle service around campus. The opportunity cost of the shuttle service to the university is equal to: a. zero, since it is free to students who want to ride
b. the wages paid to the shuttle drivers. c. the wages paid to the shuttle drivers, plus the gasoline expenses. d. the highest valued alternative use of the resources devoted to the shuttle program.
In a perfectly competitive market,
a. each firm faces a perfectly elastic supply curve b. each consumer faces a perfect elastic demand curve c. the market sums up the buying and selling preferences and determines the market price d. the market price is determined by firms and the market quantity is determined by consumers e. price equals marginal cost equals average total cost in the short run
GDP is the total market value of all final goods and services produced in a given time period within a nation's borders.
Answer the following statement true (T) or false (F)