Which of the following would cause an increase in human capital?
A. The purchase of an airplane
B. An increase in the sale of Microsoft Windows
C. An increase in the number of college students
D. A machine purchased to cook burgers automatically
Answer: C
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In a hypothetical country, the average wage of five 40-year-old citizens with college education is $36,896, and the average wage of five 40-year-old citizens with high school education is $25,864
What is the returns-to-college education in the country? Is there any limitation of this analysis? Explain your answer.
If the quantity demanded for a product exceeds the quantity supplied, the market price will rise until
A) the quantity demanded equals the quantity supplied. The product will then no longer be scarce. B) quantity demanded equals quantity supplied. The market price will then equal the equilibrium price. C) only wealthy consumers will be able to afford the product. D) quantity demanded equals quantity supplied. The equilibrium price will then be greater than the market price.
Which of the following is a correct statement regarding the balance sheet of the Federal Reserve?
A) Fed assets = Fed liabilities + Federal Reserve notes B) Fed assets = Fed liabilities + Fed capital accounts C) Fed assets = Fed liabilities + bank reserves D) Fed assets = bank reserves + Federal Reserve notes outstanding
Today, reserve requirements are:
A. changed instead of making changes in the discount rate. B. really not a direct tool of monetary policy. C. changed whenever the target federal funds rate is changed. D. set in a way that makes reserve demand highly unpredictable.