Ensuring that high-quality public education is freely available to all children is one of the most important ways that a country can:
A. increase its stock of human capital.
B. decrease its stock of human capital.
C. decrease its productivity.
D. increase its foreign direct investment.
A. increase its stock of human capital.
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Which of the following will lead to a change in the opportunity cost of buying a pen and a pencil?
A) An increase in the consumer's income B) A decrease in the consumer's income C) A twofold increase in the prices of both pens and pencils D) A twofold increase in the price of pens and a threefold increase in the price of pencils
Both the Latin American countries and the sub-Saharan countries have poor economic growth records due to
A) climate. B) geography. C) colonization. D) arbitrary governance. E) indifference from the World Bank.
Why are relative price changes important? (3)
What will be an ideal response?
Mathematically the marginal rate of substitution is
A) always a negative number. B) always a positive number. C) is equal to 1. D) sometimes a positive and sometimes a negative number.