________ increases with education, training, and job experience
i. Physical capital
ii. Human capital
iii. Financial capital
A) i only
B) ii only
C) iii only
D) both ii and iii
E) i, ii, and iii
B
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Which is of the following statements is correct?
A. If demand decreases, then price will decrease. B. If price decreases, then demand will decrease. C. If demand increases, then price will decrease. D. If price increases, then demand will decrease.
Income is measured as
a. average cash holdings per time period. b. change in cash holdings per time period. c. some amount per time period. d. some amount at a point in time.
A 10 percent increase in the price of sugar reduces sugar consumption by about 5 percent. The increase causes households to
a. spend more on sugar. b. spend less on sugar. c. spend the same on sugar. d. consume more goods like coffee and tea that are complements of sugar.
The law of supply can be stated as all else equal:
A. quantity supplied rises as income falls. B. quantity supplied rises as income rises. C. quantity supplied rises as price rises. D. quantity supplied rises as price falls.