Which of the following is false?
a. Accepting a reduction in current income to acquire education and training can increase future earning ability, which can raise the standard of living.
b. Improvements in literacy stimulate economic growth by reducing barriers to the flow of information and raising labor productivity.
c. One problem of providing enough education in poorer countries is that since children in developing countries are an important part of the labor force at a young age, there is a higher opportunity cost of education in terms of foregone contribution to family income.
d. Investment alone guarantees economic growth per capita.
d
You might also like to view...
Looking at the table above, real wages ________ from 2011 to 2012, and real wages ________ from 2012 to 2013.
A) fell; rose
B) fell; fell
C) rose; fell
D) rose; rose
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
During the early years of the US industrial revolution, the US welcomed immigrants from abroad. How would immigration affect the production possibilities frontier?
a. turns a linear PPF into a convex PPF b. turns a convex PPF into a linear PPF c. no impact d. shift it in e. shift it out
If a firm is experiencing diseconomies of scale, then
A. proportional increases in all inputs result in proportional increases in output. B. the firm should expand the size of its operation. C. the long-run average cost curve is decreasing as output expands. D. the long-run average cost curve is rising as output expands.