Human capital refers to the physical tools and equipment that workers use on their jobs to enhance their productivity
a. True
b. False
Indicate whether the statement is true or false
False
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The international financial system operated under a gold standard
a. from the 1500s through the present b. from 1879 through the present c. from 1879 to 1914 d. from 1914 to 1939 e. never
Price elasticities of supply are always:
a. the same as price elasticities of demand. b. negative numbers. c. positive numbers. d. greater than one. e. increased when a tax is imposed.
In the United States the degree of individual income mobility (that is, the degree to which people move from higher to lower, or lower to higher, income groupings) is: a. rigid in both directions
b. flexible in both directions. c. flexible upward but rigid downward, since high income perpetuates itself from generation to generation. d. flexible downward but rigid upward, since most low-income people never rise significantly above the poverty level.
Which of the following is another way of saying "marginal benefits of an action"?
A. Benefits given up, once the action is taken B. Unintended gains from taking the action C. Benefits accruing to others, as a result of one's action D. Extra benefits resulting from the action