Human capital refers to the:
A. Stock of knowledge and skills that enables a person to be productive and earn income
B. Number of workers in a country's labor force
C. Number of labor hours worked in a country
D. Schools, highways, and other infrastructure that increases labor productivity
A. Stock of knowledge and skills that enables a person to be productive and earn income
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"Tying" is a form of price discrimination which involves a buyer
A) agreeing to purchase a product at a fixed price regardless of the amount purchased. B) paying different prices based on the amounts of a product purchased. C) required to buy one product in order to purchase some other product. D) All of the above
Which of the following would not be classified as capital by economists?
A. Laptop computers at a technology company B. Sewing machines at a clothing factory C. A corporate bond from IBM D. Gym equipment at a local fitness center
A normal good is one for which
A. demand increases as income increases. B. the demand curve is horizontal. C. demand decreases as the price of a substitute increases. D. demand increases as income decreases.
If the money multiplier is 10, the purchase of $1 billion of securities by the Fed on the open market causes a
A. $1 billion increase in the money supply. B. $10 billion decrease in the money supply. C. $1 billion decrease in the money supply. D. $10 billion increase in the money supply.