Which of the following is NOT considered to be a factor in the determination of a person's marginal productivity?
A) innate abilities such as high intelligence
B) investment in human capital such as education
C) on-the-job training
D) the elasticity of supply of labor
Answer: D
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All else held constant, an increase in the price of tablets will result in a
A. decrease in the demand for tablets. B. leftward shift of the demand curve for tablets. C. movement up and to the left along the demand curve for tablets. D. rightward shift of the demand curve for tablets.
If the Fed does not take into account the additional policy channels available in an open economy, then ________ when conducting contractionary monetary policy
A) it is likely to increase GDP too little and cause a recession B) it is likely to decrease GDP too little and inflation will persist C) it is likely to decrease GDP too much and cause a recession D) it is likely to increase GDP too much and inflation will persist
When a new depositor opens a checking account at the First National Bank, the bank's assets ________ and its liabilities ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Which of the following statements is not correct?
a. The median voter theorem explains why politicians appeal to the middle of the voting distribution. b. Based on studies of human decision making, most people prefer to procrastinate, both in the immediate future and in the distant future. c. Screening refers to an uninformed party trying to extract information from an informed party. d. Advertising can be an example of a company signaling the quality of its products.