Firms that offer to pay for college tuition for their employees are investing in ________ capital.
A. tangible
B. productive
C. human
D. social
Answer: C
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The natural rate of unemployment is equal to the unemployment rate when there is only:
A. structural and frictional unemployment. B. frictional unemployment. C. cyclical unemployment. D. structural and cyclical unemployment.
Refer to Figure 4-4. At the equilibrium price of $15 consumers are willing to buy 80 pounds of tiger shrimp. Is this an economically efficient quantity?
A) No, the marginal benefit of the 80th unit exceeds the marginal cost of the 80th unit. B) No, the marginal cost of the 80th unit exceeds the marginal benefit of the 80th unit. C) Yes, because marginal cost is zero at the 80th unit. D) Yes, because $15 is the price where the marginal benefit is equal to the marginal cost.
The formula for AVC is
A. ?TVC/?q. B. ?q/?TVC. C. TVC/q. D. q/TVC.
Because producers do not bear the external cost of pollution,
A) private production exceeds the economically efficient level. B) the economically efficient level of production is achieved. C) private production is below the economically efficient level. D) the market price for the product being produced by the pollution-generating company is too high.