The development of human capital
A) is a form of investment.
B) enhances economic growth, but the individuals acquiring the capital are not made better off themselves.
C) does not appear to enhance economic growth.
D) enhances economic growth, but it does not improve the productivity of the labor force.
A
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Why do private markets tend to undersupply nonrivalrous goods?
a. Because free riders will refuse to pay for these goods. b. Because the tragedy of the commons will reduce their value to zero. c. Because people have an incentive to understate their preferences for these goods. d. Because the efficient price for these goods is zero.
In a prisoner's dilemma game, the Nash equilibrium is better for each player than is the cooperative solution
Indicate whether the statement is true or false
The efficient markets hypothesis suggests that investors
A) should purchase no-load mutual funds which have low management fees. B) can use the advice of technical analysts to outperform the market. C) let too many unexploited profit opportunities go by if they adopt a "buy and hold" strategy. D) act on all "hot tips" they hear.
Refer to Scenario 13.17. If the Incumbent Monopoly installed excess capacity in advance of the Potential Entrant's appearance on the scene, and this excess capacity had a cost of $X, it would reduce by $X the Incumbent Monopoly's payoffs in the
A) top row. B) bottom row. C) left column. D) right column. E) entire matrix.