With a human capital investment (such as the investment in going to college), the most important cost tends to be
A) foregone leisure.
B) books and equipment.
C) the opportunity cost of not working.
D) taxes.
Answer: C
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________ emphasize(s) that changing productivity and technology are the main reasons behind fluctuations in the economy
A) The real business cycle theory B) Keynesian theory C) Ricardian theory D) Monetary theories
A cut in the income tax rate ________ the tax wedge and ________ employment, saving, and investment
A) decreases; increases B) increases; increases C) does not change; increases D) decreases; does not change E) increases; decreases
Many business cycle theories are associated, by name, with individual economists who championed the ideas. For example, the housing cycle is also known as the
a. Schumpeter cycle b. Keynesian cycle c. Marxist cycle d. Kuznets cycle e. Jevons cycle
Many economists are in favor of increased immigration of adult foreigners who possess high levels of skills and education. Why?
a. Economists are very caring individuals. b. Economists believe this is a way to increase understanding among different ethnic groups. c. Economists believe foreigners will work cheaper. d. Economists believe this will increase aggregate supply.