Self-interest
A) implies that a person must try to increase wealth at all times.
B) implies that people will not give away wealth.
C) is consistent with many goals that people pursue, including betterment of others.
D) applies only to people in market settings.
C
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The demand curve for a Giffen good slopes upward
Indicate whether the statement is true or false
Purchasing power parity exists when domestic currency:
a. maintains a fixed exchange rate with foreign currency. b. is not convertible into foreign currency. c. buys more goods at home than abroad. d. buys as many goods at home as it does abroad. e. appreciates in value against foreign currency.
What is one potential problem with nationalized health care?
A) It might not be efficient in risk bearing. B) It is guaranteed to solve the principal-agent problem. C) It would be efficient in risk bearing. D) It might cost too much.
________ increases with education, training, and job experience
i. Physical capital ii. Human capital iii. Financial capital A) i only B) ii only C) iii only D) both ii and iii E) i, ii, and iii