Kara is considering migrating to another country. Which of the following represents a cost she will face if she decides to move?
A. Financial expenditures to transport herself and her belongings to her new country.
B. The income she currently earns in her home country.
C. The application fee for a green card.
D. All of these.
Answer: D
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Economics is a social science in the sense that it
A. rigorously examines human behavior. B. is not as scientific as physics. C. relies on historical data instead of mathematical data. D. relies on statistics instead of mathematics. E. All of these responses are correct.
The stock of labor talents and skills is known as
a. a public good. b. the functional distribution. c. human capital. d. enterprise.
If a country has a bowed out (concave to the origin) production possibility frontier, then production is said to be subject to
A) constant opportunity costs. B) decreasing opportunity costs. C) first increasing and then decreasing opportunity costs. D) increasing opportunity costs.
If housing prices are expected to increase, then, other things equal, the demand for houses will ________ and that of Treasury bills will ________
A) increase; increase B) increase; decrease C) decrease; decrease D) decrease; increase