The World View article titled "The Education Gap between Rich and Poor Nations" says that a greater percentage of people graduate from high school in rich nations than in poor nations. This investment in human capital can lead to
A. Lower productivity.
B. A bigger capital stock.
C. Lower labor quality.
D. Increased output per worker.
Answer: D
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An increase in U.S. Treasury deposits at the Fed reduces both ________ and the ________
A) reserves; monetary base B) Fed liabilities; money multiplier C) Fed assets; monetary base D) Fed assets; money multiplier
Use the above table. If firms 3 and 4 merge, the four-firm concentration ratio will
A) increase from 75 percent to 80 percent. B) increase from 60 percent to 75 percent. C) decrease from 75 percent to 60 percent. D) not change.
Josiah installed a metal sculpture in his front yard. A positive externality arises if the sculpture
a. increases the value of other properties in the neighborhood. b. increases the value of Josiah's home c. is visually unappealing to Josiah's neighbors. d. creates a safety hazard for neighborhood children.
The law of diminishing returns helps to explain why:
A.) Marginal cost increases, in the short run, as more output is produced. B.) The demand curve for a competitive firm is perfectly elastic. C.) The total cost curve diminishes as long as output increases. D.) Marginal cost decreases as more output is produced.