Investment in both physical and human capital enhances economic growth because it:
a. increases consumption during the current period.
b. makes it possible for individuals to produce more goods and services per hour worked.
c. encourages firms to expand output by employing more low-productivity workers.
d. encourages workers to unionize and, thereby, fight for higher wages.
b
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Most economists believe that a small amount of the gap between the wages of white males and the wages of other groups is due to discrimination. Which of the following factors is not another factor that explains part of this gap?
A) geographic location B) differences in experience C) differing preferences for jobs D) differences in education
The current monetary system in the United States is
A) a mix of fiat money and exchange using transactions deposits at banks. B) a commodity money system. C) a gold standard. D) a commodity-backed fiat money system.
As people have become more health-conscious and decided to eat food that is better for them
A) the demand curve for scooters has shifted to the right. B) the demand curve for cupcakes has shifted to the right. C) the demand curve for oranges and apples has shifted to the right. D) None of the above.
The short-run aggregate supply curve is upward sloping for all of the following reasons except:
A. some markets are posted-price markets. B. some firms adjust their markup in response to an increase in demand. C. all inputs are fully utilized in the short run. D. some firms adjust their production in response to an increase in demand.