Getting a college degree is an example of investing in
A. physical capital.
B. research and development.
C. technology.
D. human capital.
Answer: D
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Refer to Table 2-10. What is Fred's opportunity cost of making a unicycle?
A) 1/3 of a pogo stick B) 1/2 of a unicycle C) 3 pogo sticks D) 1.3 pogo sticks
The structure of the Federal Reserve is ___________________.
a. semi-decentralized b. centralized c. simple d. localized
A tradeoff exists between a clean environment and a higher level of income in that
a. studies show that individuals with higher levels of income actually pollute less than low-income individuals. b. efforts to reduce pollution typically are not completely successful. c. laws that reduce pollution raise costs of production and reduce incomes. d. by employing individuals to clean up pollution, employment and income both rise.
A market in which the entire demand for a good or service can be satisfied at the least cost by a single firm is a:
A. horizontal market. B. natural monopoly. C. contestable market. D. perfect market.