What types of capital can improve the productivity of workers?
A. Technological and human
B. Human and physical
C. Physical and technological
D. Human, technological, and physical capital are all determinants of productivity
B. Human and physical
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Other things being equal, the increase in rents that occurs after rent controls are abolished is smaller when
A) the own price elasticity of demand for rental homes is price inelastic. B) the own price elasticity of demand for rental homes is price elastic. C) the own price elasticity of demand for rental homes has unitary price elasticity. D) rented homes and owned homes are complements. E) rented homes and owned homes are substitutes.
Compared to a more standard experimental design which would assign observations to a control group or to a treatment group, a synthetic cohort analysis
A. uses a sophisticated algorithm to estimate data for observations in the control group. B. only has a treatment group. C. finds other populations that "mirror" the treatment group in many ways in order to argue that these other populations can serve as a valid control group. D. only has a control group. E. assigns observations to the control or treatment group based on certain demographics such as location or race.
In a customs union, members remove all trade barriers among themselves and adopt a common set of external barriers.
Answer the following statement true (T) or false (F)
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. Given the scenario described, if the market price of hammers increased from $6 to $8:
A. producer participation in the market would increase. B. producer participation in the market would remain unchanged. C. producer participation in the market would decrease. D. total producer surplus would increase by $2.