The set of acquired skills and abilities that workers bring to the production of goods and services is:
A) money.
B) wealth.
C) human capital.
D) natural ability.
Ans: C) human capital.
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Which of the following groups of people will be considered as unemployed?
A) Workers who experienced a wage cut due to recession B) Housewives raising kids at home and not looking for jobs C) Employees working in public sector undertakings D) Agricultural workers who are unemployed and have been looking for jobs for the last four weeks
Refer to Figure 14.1. Other things equal, an increase in the inflation rate is best represented as a movement from
A) point A to point B. B) point C to point A. C) point C to point B. D) point B to point C.
Policies favored by the median voter:
a. will not necessarily be the most economically efficient policies b. will likely be favored by candidates c. both of the above d. neither of the above
If a farmer rents the land he works on, then any price support or deficiency payments he receives __________ capitalized into the value of that land, and so his economic profit from farming __________
A) are; goes to zero B) are; remains positive C) are not; goes to zero D) are not; remains positive