Getting a master's degree is an example of investing in:
A. human capital.
B. technology.
C. research and development.
D. physical capital.
Answer: A
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Pick the true statement from your textbook:
A) Land has a cost. B) Fruit has a cost. C) Fertilizer has a cost. D) Only actions can have costs.
Firms organize production by using a mix of
A) command and incentive systems. B) market and agency systems. C) command and market systems. D) incentive and agency systems.
Which of the following are primary functions of a central bank?
I. act as a regulator of banks II. issue government bonds III. set monetary policy IV. regulate dividend payments by corporations A) I, II, III, and IV B) I, II, and III C) I and III D) I and II
When the supply of labor to a firm is perfectly elastic the marginal factor cost will equal the
A. market price of the product. B. wage rate times the number of workers. C. marginal physical product. D. wage rate.