Does low human capital cause poverty or does poverty cause low human capital?
A. The causality works both ways.
B. Poverty causes low human capital, not the other way around.
C. There is no causal link between low human capital and poverty.
D. Low human capital causes poverty, not the other way around.
Answer: A
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Which of the following statements about a movement along the production possibilities curve in the above figure is FALSE?
A) An additional computer can be produced only if fewer televisions are produced. B) The trade-off between computers and televisions is not constant. C) Society cannot have more of both goods at the same time. D) There are no opportunity costs involved in choosing one point on the curve over all other points.
An employer faces a minimum wage control where it cannot pay its workers any less than $10.25 an hour. The employer knows that the workers value the jobs and are willing to work even at much less. The employer decides to offer them the minimum wage, but successfully stops other sellers of work uniform from sell uniforms to its workers so that he can charge more for the ones he sells. This is an
example of a. Tying b. Bundling c. Exclusion d. Fraud
Marco’s country has advanced technology and the facilities necessary to produce a high volume of goods. Kiera’s country has the same advanced technology and very similar facilities, but the workers in her country produce more output. What is the most likely cause of this difference?
a. The workers in Marco’s country are more educated. b. The workers in Kiera’s country are older. c. The workers in Marco’s country are older. d. The workers in Kiera’s country are more educated.
The Fed changes the discount rate as part of its policy to reach all of the following objectives except
A. Price stability B. High employment C. Economic growth