Which of the following refers to human capital?
a. Money spent by business to acquire labor
b. The acquired skill and productivity of workers
c. The plant and equipment used with labor
d. Money spent on purchasing the latest machinery
e. Money that workers save
b
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Japan was accused of dumping in the steel industry within the United States when it
A) negotiated an illegal agreement to raise prices with U.S. steel industries. B) prohibited imports of U.S. steel into Japan. C) sold steel in the United States at a price below its cost of production. D) negotiated an illegal trade deal with Canada.
Which of the following accurately describes the relationship between excess reserves and checkable deposits following the financial crisis of 2007-2009?
A) Excess reserves declined as the excess reserve ratio returned to near zero. B) Excess reserves rose to nearly one-third of checkable deposits. C) Excess reserves approached the same level as checkable deposits. D) Excess reserves exceeded checkable deposits.
Which is the most accurate statement?
A. Poverty can easily be wiped out by giving every adult on welfare a minimum wage job. B. The basic cause of poverty is that nearly all of the poor are lazy. C. Within a decade, poverty will no longer be a national problem. D. There is a hard core of millions of poor people who will need public assistance for many years to come.
Policies that affect aggregate expenditures are primarily relevant to the:
A. long-run growth framework. B. short-run business cycle framework. C. long-run business cycle framework. D. short-run growth framework.