Physical capital is distinguished from human capital because
A) physical capital refers to trained people.
B) physical capital refers to equipment and machinery, whereas human capital refers to trained people.
C) human capital refers only to day laborers.
D) physical capital refers to trained people, whereas human capital refers to equipment and machinery.
Answer: B
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A good example of a policy to increase an economy's saving rate is ________
A) to reduce poverty B) to increase the economic growth rate C) to increase government spending D) to reduce interest rates E) to increase sales taxes
Which of the following changes in the exchange rate represents a depreciation of the dollar?
a. 100 yen = $1 to 110 yen = $1 b. 1 yen = $.10 to 1 yen = $.08 c. 1 pound = $3 to 1 pound = $4 d. $1 = 25 rubles to $1 = 30 rubles e. 20 euros = $10 to 25 euros= $10
Which European nation has kept its own currency and maintains a fixed value against the euro?
a. The United Kingdom b. Belgium c. Denmark d. Russia
On a demand curve, demand is more elastic
A. At higher prices. B. At lower prices. C. At the middle price. D. When demand is unitary.