Which theory states that education makes workers more productive?
human-capital theory
You might also like to view...
In the case where the LM schedule is relatively steep and the IS schedule is relatively flat, the most effective policy would be a change in
a. money supply. b. government expenditures. c. government spending financed by a change in taxes. d. taxes.
If the nominal interest rate is 5 percent and the rate of inflation is -2.5 percent, then the real interest rate is
a. -7.5 percent. b. -2.5 percent. c. 2.5 percent. d. 7.5 percent.
The Taft-Hartley act allows the president to call for an 80-day "cooling-off" period if a strike imperils the ___________.
Fill in the blank(s) with the appropriate word(s).
Exhibit 2-15 Production possibilities curve
In Exhibit 2-15, evidence of the law of increasing opportunity costs is:
A. to get the first 10 capital goods, economy has to give up 2 consumption goods but to get the next 10 capital goods, the economy has to give up 8 consumption goods. B. the downward slope of the production possibilities curve. C. the amount of capital goods increases by 10 units as the economy moves from point J to point K to point L to point M to point N. D. the amount of capital goods increases by 10 units as the economy moves from point L to point G.