An example of human capital would be:
A. your writing skills.
B. your desk.
C. your computer.
D. None of these is an example of human capital.
Answer: A
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The risk premium is
A) the amount by which the expected return on a risky asset exceeds the return on an otherwise comparable safe asset. B) a measure of the riskiness of the overall economy in a domestic country compared with a foreign country. C) the amount an investor must pay to insure his or her stock portfolio to protect against a fall in value. D) the amount an investment bank charges to guarantee an annuity that pays a fixed rate of return in the future.
In the short run, the firm's break-even point is:
a. the minimum point of the firm's demand curve. b. the minimum point of the firm's average-total-cost curve. c. the minimum point of the firm's average-variable-cost curve. d. the minimum point of the firm's marginal-cost curve. e. the minimum point on the average-fixed-cost curve.
Suppose Ben owns a small company that makes kites. The market for kites is perfectly competitive, and kites sell for $25 each. Ben's total production costs vary depending on the number of kites he makes each day, as shown in the accompanying table. Number of kites Per DayTotal Cost Per Day ($)0100111021263148417252006235 When Ben makes 2 kites per day, what is his average variable cost?
A. $63 B. $50 C. $26 D. $13
Which of the following is true about the output level where marginal revenue equals marginal cost?
A. The firm is maximizing profit. B. The firm should increase its output. C. The firm should reduce its output. D. Economic profits are equal to zero.