Which of the following is an example of physical capital?
a. the strength of workers
b. on the job training
c. financial assets like cash and bonds
d. the equipment in a factory
d
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Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of
A) structural unemployment. B) cyclical unemployment. C) seasonal unemployment. D) frictional unemployment.
If the dollar depreciates relative to the Mexican peso,
A) U.S. exports to Mexico become more expensive. B) U.S. exports to Mexico become less expensive. C) Mexican imports to the United States become less expensive. D) The value of Mexican imports to the United States does not change, but the value of U.S. exports to Mexico increases.
If the quantity of higher education demanded rises by 5 percent when incomes rise by 10 percent,
a. higher education is a normal good b. higher education is an inferior good c. the demand for higher education is price elastic d. the law of demand applies to higher education e. the demand for higher education is price inelastic
When making a purchase, it is least costly to
a. pay cash. b. put it on a credit card and pay off the balance plus interest in one year. c. put it on a credit card and pay off the balance at the end of the month before interest accrues. d. it doesn't matter because all three have the same present value.