Which of the following is considered human capital? Knowledge acquired from
a. early childhood education programs
b. job training
c. on-the-job experience
d. All of the above are correct.
d
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The efforts of nations to influence exchange rates are known as
A) open market operations. B) establishing terms of trade. C) foreign exchange market intervention. D) rate discrimination.
Refer to Figure 24-4. In the figure above, LRAS1 and SRAS1 denote LRAS and SRAS in year 1, while LRAS2 and SRAS2 denote LRAS and SRAS in year 2. Given the economy is at point A in year 1, what is the growth rate in potential GDP in year 2?
A) 8% B) 9.1% C) 10% D) 12%
An increase in the U.S. demand for foreign exchange will
a. decrease the price of foreign exchange b. decrease the value of the U.S. dollar c. increase the value of the U.S. dollar d. make foreign goods less expensive in U.S. dollars e. make U.S. goods more expensive in foreign exchange
Legislation to protect red-cockaded woodpeckers created incentives that resulted in premature harvesting of trees the woodpeckers like to nest in. This is an example of which of the following?
a. Association is not causation. b. the fallacy of composition c. the use of ceteris paribus conditions in economic analysis d. Good intentions do not always lead to desirable outcomes.