All of the following are examples of human capital except:
A. an eye for decorating and color.
B. a PhD in chemistry.
C. an automotive manual.
D. physical strength.
Answer: C
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What did Adam Smith identify as the source of the invisible hand in 1776?
A) a benevolent central government that decided was best for everyone B) an individual's concern for fellow humans C) an individual's own self-interest D) the stock market E) buyers' and suppliers' concerns to obtain and retain good reputations
Steve is finding it impossible to get over his most recent break-up and finds himself talking about her constantly. An example of a commitment device that Steve could use to get over her would be:
A. to allow Steve's best friend to punch him in the arm any time he mentions her name. B. to take a cold shower every morning. C. to start dating someone else. D. None of these is a commitment device.
When exchange rates are fixed, a temporary expansion in the money supply will:
A) increase output. B) leave output unchanged. C) lower output. D) increase the exchange rate.
Depression and lost self-esteem are examples of the ________ costs of unemployment, while the lost income and tax revenue are examples of the ________ costs of unemployment.
A. psychological; economic B. economic; psychological C. economic; social D. social; psychological