Which of the following is an example of human capital for a college economics professor?
a. years of experience
b. "clickers" which interface with an in-class computer system and display the results of student "votes"
c. chalk
d. internet access in the classroom
a
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Holding supply constant, an increase in demand will
A) increase both the quantity and price. B) increase the equilibrium price and decrease the equilibrium quantity. C) decrease the equilibrium price and increase the equilibrium quantity. D) decrease both the quantity and price.
Persistent U.S. deflation between 1879 and the mid-1890s was primarily due to the fact that the ___________ was growing faster than the _________
a. supply of money; demand for money b. demand for money; supply of money c. demand for money; demand for goods d. demand for goods; supply of money
The quantity theory of money states explicitly that the:
A. money supply is determined by the price level. B. there is no relationship between the value of money and the quantity of money in existence. C. value of money is determined by the overall quantity of money in existence. D. Real GDP is determined by the money supply.
Cell phones and bluetooth headsets are complements. A decrease in the price of bluetooth headsets would cause which of the following in the market for cell phones?
A. The equilibrium price of cell phones would decrease and the equilibrium quantity would increase. B. The equilibrium price and quantity of cell phones would increase. C. The equilibrium price and quantity of cell phones would decrease. D. The equilibrium price of cell phones would increase and the equilibrium quantity would decrease.