A(n) _____ implies an increase in human capital
a. addition of a new machine that laborers use in production
b. increase in wealth
c. more educated labor force
d. increase in the number of schools in a country
e. increase in the quantity of the capital used by a firm
c
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Refer to Figure 16-2. What is the price charged in the two markets?
A) price in the student market = price in the non-student market = Pb B) price in the student market = Pc; price in the non-student market = Pe C) price in the student market = price in the non-student market = Pa D) price in the student market = Pd; price in the non-student market = Pe
If Dell and Toshiba computers are substitutes and the price of dell computers increases we would expect to see
a. An increase in demand for Toshiba computers b. An decrease in demand for Toshiba computers c. An increase in the quantity of Toshiba computers demanded d. An decrease in the quantity of Toshiba computers demanded
Which of the following provides the foundation of the case for free trade?
a. The law of diminishing marginal utility b. The anti-dumping argument c. The industrial diversity argument d. The theory of comparative advantage
The best way to address differences in labor and environmental standards is through trade barriers
Indicate whether the statement is true or false