______ is produced by an investment of time and other resources in education, training, and experience:
A) Human capital
B) Physical capital
C) Entrepreneurship
D) Technological knowledge
Ans: A) Human capital
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Deficits and surpluses in the balance of payments are eliminated by ____ in a pure flexible exchange rate system
a. the market mechanism b. financial borrowings c. reserve movements d. changes in fiscal and monetary policies
If you believe that the inflation rate is likely to be high over the next ten years, you would want to
a. have a pension with raises indexed to the CPI if you were going to be retiring b. obtain a variable rate mortgage c. not obtain any fixed rate consumer loans d. pay off all of your existing fixed rate loans e. be a shareholder of a bank because their profits are going to increase dramatically
A rightward shift of the entire demand curve
A. is a decrease in demand. B. might be due to an increase in the income of consumers who buy the product. C. might be due to a tax reduction on the product. D. All of these choices are true.
If you anticipate that the inflation rate is going to rise from 2 percent to 3 percent next year, you should
A. wait to buy a house until next year. B. keep your funds in your sock drawer. C. borrow funds at a fixed rate of interest. D. save your funds at a fixed rate of interest.