The demand for education is determined by the
a. demand for human capital.
b. demand for nonhuman capital.
c. supply of human capital.
d. supply of nonhuman capital.
a
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When compared with a perfectly competitive market with identical costs of production, a pure monopoly will produce ________.
A. more output and charge the same price B. less output and charge the same price C. less output and charge a higher price D. more output and charge a higher price
In making the "Malthusian Prediction," Reverend Malthus assumed that:
a. technological advance would be rapid; the supply of capital was unlimited; birth control techniques would limit population growth. b. there would be little if any technological advance; the supply of capital was fixed; birth control techniques would limit population growth. c. the supply of land was fixed in quantity; there would be little if any technological advance; the sexual desires of humans would work to increase production. d. the supply of land was fixed in quantity; technological advances would be rapid; the sexual desire of humans would lead to rapid population growth.
Which of the following labor market trends have occurred in both the U.S. and in most Western European countries?
A. a substantial growth in real wages over the twentieth centaury B. a substantial growth in real wages and double digit rates of unemployment in the 1990s C. continuous and substantial growth in real wages and substantial job growth D. a pronounced decrease in wage inequality and double digit rates of unemployment in the 1990s
A surgeon charges $5,000 for a procedure. His contract with your insurer sets an allowed fee of $3,000. You are responsible for 25% of the allowed fee. How much do you pay?
What will be an ideal response?