A computer is an example of human capital
a. True
b. False
Indicate whether the statement is true or false
False
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"The national debt is too large. The government must stop spending so much money." This statement is
a. a normative statement. b. a positive statement. c. a testable hypothesis. d. both b and c.
A change in which of the following causes a movement along — not a shift in — the IS curve?
A) autonomous consumption B) government purchases C) financial frictions D) all of the above E) none of the above
Suppose that X and Y are substitutes. If the price of Y increases, how will this change the market equilibrium for X? a. Equilibrium price and quantity both decline
b. Equilibrium price and quantity both rise. c. Equilibrium price declines, and equilibrium quantity rises. d. Equilibrium price rises, and equilibrium quantity falls.
The crowding-out effect suggests that
a. restrictive fiscal policy is an effective weapon against inflation. b. expansionary fiscal policy will be a highly effective weapon for fighting a recessionary downturn c. a budget surplus will cause the demand for loanable funds to decline, interest rates to rise, and aggregate demand to decrease. d. budget deficits that lead to higher interest rates reduce private investment spending.