Which of the following is not a true barrier to human capital development in poor nations?
A. Illiteracy.
B. Prohibitive costs to meet basic needs.
C. Inequality trap.
D. Access to health care professionals.
Answer: B
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Total revenue for a seller represents the amount that:
a. sellers receive for a good or service which is computed as P ÷ Q. b. sellers receive for a good or service which is computed as P Q. c. one buyer spends on a good or service which is computed as P Q. d. one buyer spends on a good or service which is computed as P ÷ Q.
In a simple, private economy, suppose that the MPC is .8 and investment rises by $20 million. At the new equilibrium, how much will saving have increased?
a. $8 million b. $16 million c. $20 million d. $80 million e. $100 million
A worker who brings both labor and human capital to her job earns
a. both the wage rate for her labor and a share in the employer's profits. b. both the wage rate for her labor and a market rate of return on her skills. c. the going wage rate for her labor, the benefits of her capital accrue to her employer's owners. d. both the going wage rate for her labor and annual bonuses based on the level of profits and her skills.
Consider two industries in which firms hold the following market shares: Industry A: 25%, 20%, 18%, 15%, 8%, 7%, 4%, 2%, 1% Industry B: 30%, 10%, 9%, 8%, 8%, 8%, 8%, 6%, 6%, 5%, 2% What are the concentration ratios for each industry? Which is more competitive?