Which of the following reflects an investment in human capital?
a. a new labor-saving technology
b. a new heath clinic
c. a new factory employing more workers
d. an increase in consumption per capita
e. an increase in fringe benefits, such as paid vacations and overtime pay
e. wealthy landowning class and a poor working class
B
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After trade opens, the short run impact on the income of the variable factor will be
A) a decrease. B) an increase. C) zero. D) indeterminate, depending on the consumption pattern of the owners of the variable factor. E) indeterminate, depending on the productivity of the variable factor.
A change in the output gap is likely to lead to ________
A) a change in inflation B) a change in expected inflation C) a shift of the short-run aggregate supply curve D) all of the above E) none of the above
A tax levied on the buyers of a good shifts the
a. supply curve upward (or to the left). b. supply curve downward (or to the right). c. demand curve downward (or to the left). d. demand curve upward (or to the right).
Ceteris paribus, if income was transferred from individuals with a low MPC to those with a high MPC, aggregate demand would
A. Stay the same. B. Decrease. C. Increase. D. Increase or decrease, but not because of the MPC.