Human capital is the term economists use to refer to the knowledge and skills that workers acquire through education, training, and experience
a. True
b. False
Indicate whether the statement is true or false
True
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"If Mexico is currently operating at a point beyond its production possibilities frontier, then there are unemployed resources in Mexico." Is this statement true or false? Briefly explain your answer
What will be an ideal response?
State and explain three [or some other number chosen by the instructor] reasons why the scope for further expansion of developing country commodity exports is likely to be limited
What will be an ideal response?
According to the Global Watch, a recent study on Chilean bus drivers revealed that drivers who are paid by the number of passengers rather than by the hour were far more productive because: a. bus drivers do not like to work that hard
b. bus drivers are responding to average costs. c. bus drivers don't like to work on the clockâgetting paid by the hour. d. bus drivers, like most of us, respond to incentives.
A firm produces construction equipment, some of which it sells to domestic businesses and some of which it exports. Which of the following effects of capital flight in the country where it produces would likely increase the quantity of equipment it sells?
a. both what happens to the interest rate and what happens to the exchange rate b. what happens to the interest rate but not what happens to the exchange rate c. what happens to the exchange rate but not what happens to the interest rate d. neither what happens to the interest rate nor what happens to the interest rate.