An investment in yourself is an investment in what economists call human capital
a. True
b. False
Indicate whether the statement is true or false
True
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Jessica's marginal cost for producing a pitcher of lemonade is $0.25. Therefore, $0.25 is her:
A. reservation price. B. producers surplus. C. marginal revenue. D. equilibrium price.
As capital goods depreciate, potential output falls.
Answer the following statement true (T) or false (F)
In the long run, the economic profit of Hoot's Pump Chicken 'n' Ribs, a monopolistic competitor,
a. is not eliminated because competition is not perfect b. is not eliminated because the demand curve slopes downward c. is eliminated because of new firms entering the industry d. is eliminated because of firms leaving the industry e. is not eliminated because new firms cannot enter the industry
According to the monetarists, what is the main cause of macroeconomic instability?
What will be an ideal response?