An example of human capital would be:
A. an office chair.
B. a training session on Excel.
C. Excel software.
D. All of these are examples of human capital.
B. a training session on Excel.
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Which of the following is NOT a direct indicator of a society's well-being?
a. Changes in average height b. Changes in life expectancy c. Changes in average weight d. Stock of nuclear weapons
Absolute advantage is determined by comparing the opportunity costs of producing each good in different countries
a. True b. False Indicate whether the statement is true or false
In 1968, the government instituted a 26 percent income tax surcharge. In terms of the AS/AD model, this change should have:
A. shifted the AD curve to the right. B. shifted the AD curve to the left. C. made the AD curve steeper. D. made the AD curve flatter.
Efforts by corporate lobbyists to obtain a license that would give a firm a monopoly over the making of a product would be an example of:
A. price discrimination. B. rent-seeking. C. network effects. D. X-efficiency.