An example of human capital would be:
A. a training session on Excel.
B. an office chair.
C. Excel software.
D. All of these are examples of human capital.
Answer: A
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Changes in which of the following do NOT shift the AS curve?
i. the price level ii. potential GDP iii. the money wage rate A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
A single-price monopoly is characterized by a marginal revenue curve that is
A) upward sloping. B) downward sloping. C) horizontal. D) vertical.
Suppose Americans buy inputs from foreigners. When the price of foreign inputs falls, the U.S. SRAS curve __________, which tends to __________the U.S. price level
A) shifts rightward; reduce B) shifts leftward; increase C) shifts leftward; reduce D) remains constant; increase
In Econland population and average labor productivity are constant. If a larger proportion of the population becomes employed workers, then total output will ________ and output per person will ________.
A. decrease; decrease B. remain constant; remain constant C. decrease; remain constant D. increase; increase