The gains from specific training in human capital tend to go to the
A. employing firm and not the individual.
B. individual and not the employing firm.
C. parents since they paid for the education in the first place.
D. federal government in the form of higher taxes.
Answer: A
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A tax is regressive if the average tax rate
A) increases as income increases. B) increases as income decreases. C) is negative. D) is less than one.
The process by which an economic variable is adjusted to remove the effects of changes predicted to occur at the time of year is known as
a. structural change b. real change c. macroeconomic adjustment d. unemployment adjustment e. seasonal adjustment.
On Naomi's pig farm, Naomi hires all the labor used, grows all the grain fed to the pigs, and owns the barn. The costs used to calculate the total cost curve include
a. only the cost of labor. b. only the cost of labor and the cost of grain, which is completely consumed in the period in which it is grown. c. only the variable cost of growing grain. d. the cost of labor, the cost of growing grain, and the opportunity cost of the barn.
When there is a decrease in the unemployment rate,
A. The economy moves closer to the production possibilities curve. B. There is a movement along the production possibilities curve. C. The production possibilities curve shifts inward. D. The production possibilities curve shifts outward.