Government policies that support education and job training cause:
A. A decrease in GDP per capita, since dollars are not being spent on output.
B. An increase in the size of the labor force.
C. An increase in productivity.
D. An increase in the ratio of capital to labor
C. An increase in productivity.
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When the U.S. dollar appreciates
A) foreign residents demand more of U.S. goods, and U.S. residents desire to purchase more foreign goods. B) foreign residents demand more of U.S. goods, and U.S. residents desire to purchase fewer foreign goods. C) foreign residents demand fewer of U.S. goods, and U.S. residents desire to purchase more foreign goods. D) foreign residents demand fewer of U.S. goods, and U.S. residents desire to purchase fewer foreign goods.
For an individual's supply curve of labor to be upward sloping:
a. the substitution effect must be greater than the income effect. b. the substitution effect must be equal to the income effect. c. the substitution effect must be less than the income effect. d. is an impossibility.
The value of Best Bank's accounting profits was $35 million.
a. $1,000 b. $100 c. $10 d. $1
Consider a many-worker economy with two goods. With access to international trade, a country can consume the greatest amount of both goods by producing at the point where the
A. production possibilities curve intersects the horizontal axis. B. slope of consumption possibilities curve is greater than the slope of the production possibility curve. C. consumption possibilities curve intersects the production possibility curve. D. slope of production possibilities curve is equal to slope of consumption possibilities curve.