How will an increase in the level of human capital, ceteris paribus, affect an economy's production possibilities curve?
A. Result in a movement along the curve.
B. Result in a movement from inside the curve to a point on the curve.
C. Shift the curve inward.
D. Shift the curve outward.
Answer: D
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Which of the following is included in M1?
A. Savings accounts B. Money market deposit accounts C. Money market mutual funds D. Certificates of deposit E. None of the above is included.
The more good substitutes there are for a product, the more likely it is that the total revenue for the good in question would increase as a result of an increase in price
a. True b. False Indicate whether the statement is true or false
Suppose that a labor union leader is trying to bargain for an increase in union workers' real wages of 5 percent. If he expected the price level to rise at a rate of 3 percent this year, how much would nominal wages need to increase for him to accomplish his objective?
a. 2 percent b. 3 percent c. 5 percent d. 8 percent e. 15 percent
Comparing proprietorships with partnerships, which is TRUE?
A. In both cases, profits are taxed only once. B. Partnerships outnumber proprietorships 2-to-1 in the United States. C. A proprietor faces unlimited liability for her firm's debts, but in a partnership each partner is only responsible for an even share of the firm's indebtedness. D. Proprietorships generally end with the death of the owner, but partnerships continue as long as at least one partner survives.