Which of the following is the best example of an investment in human capital?
a. an increase in the number of hours worked per week by worker in a job employing low-skilled labor
b. the purchase of company stock by a worker
c. a summer internship at a law firm filled by someone attending law school
d. payments into a retirement pension plan by a skilled laborer
c
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Suppose there are economies of scale in the production of a specialized memory chip that is used in manufacturing microwaves. This suggests that the microwave industry is a decreasing-cost industry
Indicate whether the statement is true or false
Relative to fiscal policy, monetary policy
a. has fewer harmful side effects. b. requires much more time to implement. c. is more closely controlled by Congress. d. is much more independent of the political process.
If Vice President Smith is a better typist than his assistant, he is said to have a(n) ________ advantage in typing over his assistant
A) absolute B) unusual C) relative D) overwhelming
During rush hours, long lines of traffic clog the only bridge to town. This bridge is an example of
a. market inefficiency b. obligatory controls c. a decreasing externality cost d. a pure public good e. a near public good