The superstar phenomenon explains why professional athletes earn more than amateur athletes
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is true?
A) When real GDP equals potential GDP, both equal nominal GDP. B) Nominal GDP fluctuates around real GDP. C) Real GDP fluctuates around nominal GDP. D) Potential GDP fluctuates around real GDP. E) Real GDP fluctuates around potential GDP.
Because education generates a positive externality, ______
A. everyone who wants a college education should get one B. graduates' marginal benefit exceeds the society's value of the educa-tion C. the quantity of education undertaken will achieve the social interest if it is free D. subsidies to colleges or vouchers to students are means of achieving the efficient number of graduates
Which of the following policies would reduce structural unemployment?
A) implementing an unemployment insurance policy B) a job retraining program C) building an online job database that helps workers find jobs D) an increase in the minimum wage
Which of the following would not be considered "capital" in economics? a. A delivery van used by Federal Express
b. $500 in currency. c. A microprocessor factory d. In economics, both (a) and (c) are considered capital.