Which of the following is the best example of an investment in human capital?
A. on-the-job training received by an apprentice electrician
B. an increase in the number of hours worked per week by a worker in an unskilled laboring job
C. the purchase of company stock by a worker
D. payments into a retirement pension plan by a skilled laborer
Answer: A
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A point to the left of the BP curve would represent
A) a balance of payments deficit. B) a balance of payments surplus. C) internal disequilibrium. D) Both A and C.
All else constant, if the use of historic costs understates the opportunity costs associated with using a particular piece of capital, economic profit will be overstated
Indicate whether the statement is true or false
If M increases and V decreases: a. nominal GDP increases
b. nominal GDP decreases. c. nominal GDP stays the same. d. there is an indeterminate effect on nominal GDP.
Janet prefers cashews to almonds. She prefers macadamia nuts to peanuts, but she is indifferent between almonds and peanuts. Which of the following statements can we say for sure?
a. Janet prefers cashews to macadamia nuts. b. Janet prefers peanuts to cashews. c. Janet prefers macadamia nuts to almonds. d. Janet prefers almonds to macadamia nuts.