Which of the following is not considered human capital?
a. the golf clubs a professional golfer uses to play golf
b. the skills a professional golfer has gained by practicing on the driving range
c. the professional golfer's knowledge of how to play a better game learned from talking with other players
d. none of the above would be considered human capital
a
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Refer to the graphs shown, which show indifference curve analysis with the associated demand curves.
An increase in the price of Y most likely would cause a rational consumer to move from point:
A. H to point I. B. B to point A. C. C to point B. D. F to point D.
"Other things being equal, the monopolist hires fewer workers than would be hired than a perfectly competitive industry." Do you agree or disagree? Why?
What will be an ideal response?
An increase in the relative price of a good cannot be caused by
A) an increase in the nominal price of the good that is greater than the increase in the nominal price of the other good. B) a decrease in the nominal price of the good that is less than the decrease in the nominal price of the other good. C) a decrease in the nominal price of the other good while the price of the good itself remains constant. D) an increase in the nominal price of the other good while the price of the good itself remains constant.
The fact that the Phillips curve broke down during the 1970s means that aggregate demand has no effect on inflation.
Answer the following statement true (T) or false (F)