Which of the following would be considered human capital?
a. the financial capital a person earns over a lifetime of investing
b. the machinery a worker uses to produce a product
c. the training a worker receives when starting a new job
d. the break room in a factory where employees go to have coffee
c
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The size of the spending multiplier depends on the marginal propensity to consume (MPC)
a. True b. False Indicate whether the statement is true or false
Consider a two-country, two-commodity model. The table below shows the units of Good X and Good Y produced in Country A and Country B per labor hour. The number of labor hours required to produce one unit of Good X in Country A is ProductivityCountry ACountry BGood X1.000.50Good Y0.200.70
A. 1. B. 0.5. C. 2. D. 1.43.
The equation (MPL/PL) = (MPK/PK) represents
A. profit maximization. B. the short-run production function. C. diminishing marginal returns. D. cost minimization.
Refer to the information provided in Table 19.7 below to answer the question(s) that follow.
Table 19.7 
Refer to Table 19.7. The tax rate structure in this example is
A. proportional. B. regressive. C. progressive. D. marginal.