An increase in the amount of human capital ________ the short-run aggregate supply curve and ________ the long-run aggregate supply curve
A) shifts; shifts
B) shifts; does not shift
C) does not shift; shifts
D) does not shift; does not shift
A
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Refer to the table below. What is the expected price of the input in Country A?
The above table provides the probability distribution of price of an input next year in Country A and Country B.
A) $999
B) $501
C) $500
D) $499
A die is rolled. If it lands 1 or 2, the person receives $90. If it 3 or 4, the person receives $30.00. If it lands 5 or 6, the person receives $60. If the person is willing to pay $60 to take this gamble, they must be
a. risk-averse. b. risk-neutral. c. risk-preferring. d. either risk-neutral or risk-preferring (not risk-averse).
Assume both the demand for bagels and the supply of bagels increase. Which of the following outcomes is certain to occur?
A. The equilibrium price of bagels will rise. B. The equilibrium price of bagels will fall. C. The equilibrium quantity of bagels will rise. D. The equilibrium quantity of bagels will fall.
Fungibility is the property of an entity whose individual units:
A. are interchangeable. B. are less valuable when used together. C. are nearly impossible to identify. D. each serve a unique purpose.