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?
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.
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