An example of an increase in b, the efficiency of human capital accumulation, is
A) more mandatory school years.
B) better teachers.
C) better school material.
D) better total factor productivity.
C
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What are the five major channels, which developing countries use to finance their external deficit?
What will be an ideal response?
Suppose that the world price of kiwi fruit ($10 per box) is below the domestic price ($12 per box). A tariff of $1 per box would:
a. cause foreign producers to be better off, because the price they charge is now higher by $1 per box. b. cause domestic producers to be worse off by $5 per box. c. allow domestic consumers to enjoy kiwi fruit for $5 more per box than the free trade price, but still $2 less than the domestic price. d. allow domestic consumers to enjoy kiwi fruit for $1 more per box than the free trade price, but still $1 less than the domestic price. e. cause domestic producers to be worse off by $10 per box.
Which of the following define ceteris paribus? (check all that apply)
a. "Additional" factors, other than those under consideration, are given equal consideration. b. Other-things-equal assumption c. "Additional" factors, other than those under consideration, play a significant role in analysis. d. Factors other than those being considered in a particular analysis do not change. b. Other-things-equal assumption
The difference between the economic and accounting costs of a firm are
A) the accountant's fees. B) the corporate taxes on profits . C) the opportunity costs of the factors of production that the firm owns. D) the sunk costs incurred by the firm. E) the explicit costs of the firm.