Deepening of human capital in the U.S. economy focuses:
a. more on additional education and training than on a higher average level of work experience.
b. more on a higher average level of work experience than on additional education and training.
c. more on the reduction of the cost of capital than on additional training
d. more on increasing the stock of physical capital than on higher education.
a
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
When shortages or surpluses persist for any extended period of time, they
A) are a consequence of failure to allow prices to perform their rationing function. B) are evidence of an underlying imbalance between demand and supply. C) are evidence of goods being scarce. D) indicate that there is no price that will clear the market in the case of some goods.
When an investor buys a corporate bond, the face value of the bond is
A) a dividend payment on the bond. B) a loan to the corporation. C) a measure of ownership in the corporation. D) the coupon rate of the bond.
The data suggest that wages increase more with age for the highly educated compared to the less educated. This is evidence that
A. highly educated people also invest more in postschooling human capital compared to the less educated. B. the return to education is low for all education levels. C. the return to education is constant with respect to age. D. less educated workers invest on-the-job training more so than do the highly educated. E. on-the-job training is unrelated to the level of formal schooling.