Human capital represents:
a. the equipment that labor uses on-the-job to improve labor productivity
b. the ratio of capital to labor.
c. the education, skill, and training embodied in workers.
d. the technology developed by humans that is embodied in equipment.
e. the social institutions created by people which promote the accumulation of equipment for production.
c
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Which point or points on the above figure illustrate a short-run equilibrium?
A) Point A B) Point C C) Point B D) Points A and C
Business executives who think the demand for their product is very elastic at the current price are assuming
A) the demand will become less elastic at a higher price. B) they will be able to sell more units at a higher price. C) they will sell fewer units but receive more dollars in sales revenue at a higher price. D) they will sell more units and receive more dollars in sales revenue at a lower price. E) they will sell more units but receive fewer dollars in sales revenue at a lower price.
To have shadow prices you have to have:
A. opportunity costs. B. free markets. C. laws. D. money prices.
Refer to the given information. Zippo has a:
The plus items below are “export-type” entries and the minus items are “import-type” entries in the balance of payments for the hypothetical country of Zippo.
A. current account surplus.
B. financial account deficit.
C. financial account surplus.
D. surplus on goods and services.