Expenditures for attending college can be viewed as an investment in human capital.
Answer the following statement true (T) or false (F)
True
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Suppose farmers in a given market can either grow soy beans or corn on their land. In addition, suppose an increase in the demand for corn causes the price of corn to increase. As a result of the increase in the price of corn, farmers who were already growing corn will earn an:
A. economic loss in the short run. B. economic profit in the long run. C. economic loss in the long run. D. economic profit in the short run.
A firm decreases its scale of operation and discovers that its long-run average costs decrease. Which of the following does this indicate?
A) Labor's marginal product has increased. B) Diseconomies of scale were absent in the larger plant. C) The firm's scale initially was so large that it experienced diseconomies of scale. D) The firm's scale initially was too small to experience economies of scale. E) Its long-run marginal cost was smaller with the larger plant than with the smaller plant.
Households ________ factors of production and ________ goods and services
A) demand; supply B) demand; demand C) supply; supply D) supply; demand
Underwriting involves
A) insuring the life or health of individuals. B) guaranteeing a price for new capital to the issuing firm. C) selling stock more cheaply than conventional stockbrokers. D) issuing stock and using the proceeds to buy bonds.