To sell one more unit of a good, a monopolist must
A. raise the price only on the last unit sold.
B. lower the price on all units.
C. lower the price on the last unit only.
D. raise the prices on all goods.
Answer: B
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For the past several decades, the percentage of national income in the United States allocated to human capital (employees and self-employed workers) has been approximately
a. 20 percent. b. 40 percent. c. 60 percent. d. 80 percent.
Education and training are examples of investment in human capital.
Answer the following statement true (T) or false (F)
A major cause of the Great Recession was:
a. The liberalization of U.S. banking regulations that led to excessive risk taking. b.Excessive foreign exchange speculation. c. Contractionary fiscal policies. d. Excessive money creation by the Federal Reserve immediately before and during the downturn. e. None of the above.
Who pays the interest on government debt for the money it borrows today?
A) future generations of taxpayers B) the Congressional Budget Office C) the Federal Reserve D) The government does not pay interest on money it borrows.