Money is a factor of production because it is part of capital.
a. true
b. false
Answer: b. false
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Refer to Table 8-27. What is the level of personal income for this economy?
A) $1,140 billion B) $1,010 billion C) $990 billion D) $860 billion
Which of the following statements is true about investments in general and specific human capital?
a. Firms invest in development of general human capital of their employees. b. Employees invest in gaining specific human capital. c. Investment in general human capital of its employees by a firm may turn into a sunk cost if the employee leaves the organization to join another after completing the relevant training. d. When a firm invests in specific human capital of its employees, the employees become more attractive to other firms whose workplaces are operated and staffed differently.
Capital income does not include income paid to households for the use of their capital
a. True b. False Indicate whether the statement is true or false
Fiscal policy refers to:
A. government policies aimed at changing the underlying structure or institutions of the economy. B. decisions to determine the government's budget. C. policy directed toward increasing exports and reducing imports. D. the determination of the nation's money supply.