A person goes to college to become an engineer. This is an example of an
A) investment in physical capital.
B) investment in human capital.
C) increase in entrepreneurship.
D) increase in labor.
B
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Which statement is true?
A. There was brief depression in the early 1920s. B. Between 1921 and 1929 national output tripled. C. The automobile market was completely saturated by 1921 and sales remained low for the rest of the decade. D. None of these statements are true.
Oligopolistic industries consist of
a. a few independent firms b. a few interdependent firms c. many interdependent firms d. many independent firms e. a small monopoly
How are index numbers expressed?
a. as dollars b. as percentages c. as numbers d. as ratios
Both Diana and Sarah like jazz music and music by the Beatles. Diana likes music by the Beatles much better than jazz music, whereas Sarah prefers jazz music to music by the Beatles. If we were to graph an indifference curve with CDs by the Beatles on the horizontal axis and jazz CDs on the vertical axis, then
a. Diana and Sarah would have identical indifference curves. b. Diana's indifference curve would be steeper than Sarah's indifference curve. c. Sarah's indifference curve would be steeper than Diana's indifference curve. d. We do not have enough information to compare their indifference curves.