In reality, according to the model developed in Section 15.5 of the textbook, prices of non-renewable resources have not increased continually because of
A) abundance of the resource.
B) technological progress changing marginal cost.
C) changing market power of producers.
D) All of the above.
D
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Net foreign investment is a measure of net capital outflows, equal to capital outflows minus capital inflows in a given period of accounting
Indicate whether the statement is true or false
Economic growth depends more on technological change than on increases on capital per hour worked
Indicate whether the statement is true or false
In a labor-market separating equilibrium with high-skill and low-skill workers and where a costly educational degree is used solely as a signal device, government can increase total social welfare by
A) subsidizing school for low-skill workers. B) subsidizing school for all workers. C) eliminating schooling, i.e., banning wasteful signaling. D) subsidizing school for high-skill workers.
Creative destruction is least beneficial to:
A. workers in the "destroyed" industries. B. workers in the "created" industries. C. consumers. D. society as a whole.