Going to college to get more knowledge and skills is considered to be an increase in
A) physical capital.
B) consumption.
C) human capital.
D) net exports.
Answer: C
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A situation in which output decreases while prices increase is often referred to as:
A. inflation. B. negative economic growth. C. a recession. D. stagflation.
In the short run, specific taxes on a firm result in
a. price increases that may not persist in the long run. b. an increase in consumer surplus because the tax permits spending in additional government services. c. shortages of the good being taxed. d. an increase in producer surplus because of the rise in price.
Explain the relationship between the correlation of payoffs and the risk reducing effects of diversification and hedging.
What will be an ideal response?
The expression "social market economy," when applied to the German economic system, refers to
a. the poor performance of the German economy after World War II. b. the absence of national economic planning. c. the combination of state intervention and market forces to achieve desired social goals. d. the rejection of private ownership. e. none of the above.