Human capital refers to:
A. the skills and knowledge that enable a worker to be productive.
B. machinery used by labor in production.
C. the accumulated financial wealth of households.
D. physical capital owned by households rather than businesses.
A. the skills and knowledge that enable a worker to be productive.
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When you buy previously issued shares of Twitter stock, this transaction takes place in the
A) primary market. B) bear market. C) bond market. D) secondary market.
If tastes for a good increased and the price of a substitute good decreased at the same time, as a result: a. prices would rise
b. prices would fall. c. larger quantities to be exchanged. d. we would not know which direction either prices or quantities exchanged would be altered without more information.
Which of the following is most likely to affect the supply of labor in any particular industry?
a. the size of the available working population b. the nonmonetary attractiveness of the job c. the amount of ability and training necessary to enter the job d. all of the above
A tax on a market with elastic demand and elastic supply will shrink the market more than a tax on a market with inelastic demand and inelastic supply will shrink the market
a. True b. False Indicate whether the statement is true or false