Because education is less costly to obtain for highly productive individuals who are also likely to be highly productive in the work place, education ________ in the job market.
A. does not work as a market signal
B. is a strong market signal
C. is a weak market signal
D. is the only market signal
Answer: B
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As residents of developing countries increase their chocolate consumption, the increased production of cocoa results in
A) increased opportunity cost of cocoa production. B) decreased opportunity cost of cocoa production. C) no change in production of other goods and services. D) increased production of other goods and services.
Assume that the central bank lowers the discount to increase the nation's monetary base. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the net nonreserve international borrowing/investing and monetary base in the context of the Three-Sector-Model? State your answer after the macroeconomic system returns to complete equilibrium
a. The net nonreserve international borrowing/lending balance becomes more positive (or less negative) and monetary base rises. b. The net nonreserve international borrowing/lending balance becomes more negative (or less positive) and monetary base remains the same. c. The net nonreserve international borrowing/lending balance becomes more negative (or less positive) and monetary base falls. d. The net nonreserve international borrowing/lending balanceand monetary base remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Which of the following will most likely occur under a system of clearly defined and enforced private property rights?
What will be an ideal response?
Accounting profit differs from economic profit because:
a. of differences in the manner in which revenue is calculated. b. economic costs include depreciation, while accounting costs do not. c. accounting costs are generally higher than economic costs because accounting costs include explicit and implicit costs, while economic costs include only explicit costs. d. economic costs are generally higher than accounting costs because economic costs include all opportunity costs, while accounting costs include explicit costs only.