President Obama has proposed a goal that everyone complete at least one year of formal education or training beyond high school. This policy would
A) increase human capital and increase economic growth.
B) increase physical capital and increase economic growth.
C) increase financial capital and increase economic growth.
D) eliminate opportunity costs and increase economic growth.
A
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International capital flows in an open economy have the effect of
a. increasing the power of fiscal policy. b. reducing the power of fiscal policy. c. reducing the power of fiscal policy in an expansion, and increasing it in a contraction. d. increasing the power of fiscal policy in an expansion, and reducing it in a contraction.
Patent protection is important in affecting technological progress because it makes research and development
A) diffuse more quickly. B) more fertile. C) more easily available. D) more appropriable. E) none of the above
An increase in labor productivity will shift
A. MRP curve to the left. B. MFC curve to the right. C. MFC curve to the left. D. MRP curve to the right.
Which of the following is not a potential source of monopoly?
a. patents b. economies of scale c. competitive tactics d. civil rights