When the price of a resource is set below equilibrium,
a. excess demand for the resource will occur.
b. excess supply of the resource will result.
c. the supply of the resource will be inelastic.
d. the demand for the resource will be inelastic.
A
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The internal rate of return equals the cost of capital when
A) NPV = 0. B) NPV > 0. C) NPV < 0. D) None of the above
According to the Monetarist view, the impact of expansionary monetary policy will be:
a. the same in the long run as in the short run. b. the same regardless of whether the effects of the policy are anticipated or unanticipated. c. a higher price level (inflation). d. a decrease in short-run prices and an increase in long-run prices.
Under the GATT framework, nations negotiated for up to six years, resulting in new trade agreements. These are known as:
a. conferee sessions. b. plenary meetings. c. sesquisessions. d. rounds.
Human capital is generally acquired through:
A. job experience, but not training workshops because they are generally specific to certain job types. B. occupational workshops only,because this is where workers attain job focused skills. C. training, but not academic education. D. education, training and experience of workers.