Human capital can be increased through
A) investment in new technology.
B) decreases in population.
C) investment in new machinery.
D) education, on-the-job training, and work experience.
E) increasing the nation's production of consumption goods.
D
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Limit pricing is used primarily to:
A) discourage new firms from entering a market. B) reduce (limit) the profits of all of the firms in the industry. C) drive other firms out of a market. D) establish a minimum price all of the firms in the market will charge.
Which of the following statements is correct regarding a firm's decision-making?
a. The decision to shut down and the decision to exit are both short-run decisions.
b. The decision to shut down and the decision to exit are both long-run decisions.
c. The decision to shut down is a short-run decision, whereas the decision to exit is a long-run decision.
d. The decision to exit is a short-run decision, whereas the decision to shut down is a long-run decision.
A union may attempt to obtain stricter certification requirements or longer apprenticeships. These changes would raise workers' wages because they:
A. create unnecessary unemployment. B. shift in labor supply curve leftward. C. decrease the marginal product of labor. D. reduce management's use of featherbedding.
In the classical view, if desired saving exceeds desired investment
A. the interest rate would decline. B. government spending must fall. C. the interest rate would increase. D. government spending must rise.