The accumulated training and education that you have is
A. human capital.
B. physical capital.
C. entrepreneurship.
D. economic goods.
Answer: A
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The figure above shows the price of a DVD player from 1996 to 2000. a. What type of graph is illustrated above? b. What is the trend in the price of a DVD player?
What will be an ideal response?
If workers in nuclear power plants underestimate the true risk of their jobs
A) employers will pay compensating differential to compensate employees fully for the risk they have assumed. B) safety legislation will not make workers better off. C) the supply of workers in this occupation will exceed demand. D) the wages of these workers will not be high enough to compensate them fully for the risk they have assumed.
On a production possibilities curve diagram, greater entrepreneurship:
a. causes the curve to shift outward. b. keeps the economy on the curve. c. prevents movement along the curve. d. keeps the economy at the corners of the curve.
According to the theory of creative destruction,
a. hurricanes and tornadoes stimulate the economy b. technological change destroys competitive markets c. monopolies engage in self-destructive behavior d. competition between industries can break a monopoly e. price wars break out when new products are introduced