Among the causes of an increase in labor supply is ________
A) improved availability and affordability of day care for children
B) an increase in enrollment at colleges
C) an increase in the college wage premium
D) an expansion of economic activity
A
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The part of the balance of payments that records purchases of assets a country has made abroad and foreign purchases of assets in the country is the
A) capital account. B) current account. C) financial account. D) statistical discrepancy account.
Widespread assumptions about the first transatlantic railroad did NOT include:
a. that government support was as essential. b. that profits to the nation would be enormous. c. that private investors would be easily compensated for any risk. d. that transatlantic crossing via rail would take a fraction of the time of a clipper ship passage.
In the long run, there is a no tradeoff between inflation and unemployment
a. True b. False
Answer the following statement true (T) or false (F)
1) The wants of consumers are expressed in the product market with "dollar votes." 2) Costs can be defined as total payments made to workers, land owners, and capital suppliers less payments to the entrepreneur for organizing and combining the other resources used to produce a good. 3) Continued losses in an industry will cause some firms to reduce output or eventually leave the industry. 4) The guiding function of prices tends to keep resources flowing toward their most highly valued uses.