Goldin (2001) refers to the 20th century as the "human capital" century and credits education for the rise in overall income
Indicate whether the statement is true or false
True
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As the price level rises, the demand for money
a. decreases because interest rates also increase. b. decreases because consumers buy fewer goods and services. c. increases because more money is needed for each transaction. d. increases because investment spending will also increase.
If the price of pizza is $10 this year and $15 next year, then 200 pizzas would contribute
A. $2,000 to this year’s GDP and $2,000 to next year’s nominal GDP. B. $3,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. C. $2,000 to this year’s nominal GDP and $3,000 to next year’s nominal GDP. D. $3,000 to this year’s GDP and $2,000 to next year’s GDP.
Suppose that Deon places a $150 value on a new MP-3 player, and Juanita places a $140 value on it. The cost of the MP-3 player is $130 . Suppose the government levies a $15 tax on MP-3 players, which raises the price to $145 . What is the deadweight loss created by the tax?
Suppose a developing country is falling further behind the developed countries that it neighbors. As an economic consultant, you are called to look at its policies to recommend changes. If you saw all of the following on your visit, which of them could be an explanation for the slow growth in the economy?
A. You see that the roads, bridges, and ports are in great shape thanks to the work of the World Bank. B. You see that new companies require few licenses to move their exports. C. You see that the central bank does not pay attention to what the elected officials want. D. You see that companies have to get official approval to remove their profits back to their home country.