Human capital can be acquired:
a. only through education
b. equally well on any job
c. equally well on any job
d. more on some jobs than others
Answer: c. equally well on any job
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The negative relation between investment spending and the interest rate is what gives the ________ curve its ________ slope
A) IS; upward B) IS; downward C) LM; downward D) LM; upward
The most appropriate countercyclical policy, or stabilization policy, in times of unemployment, according to classical economists, is for the government to:
a. increase the minimum wage. b. impose wage and price controls. c. stimulate aggregate demand. d. cut taxes. e. do nothing.
Nancy and Sheila are both loan officers who graduated from the same university with bachelors' degrees in economics, and achieved similar performance reviews. Nancy started working one year before Sheila. If Nancy earns a higher annual salary than Sheila because she has more experience, the employer is
a. rewarding increases in human capital. b. paying efficiency wages. c. practicing discrimination. d. paying a compensating differential.
If a nation has ________ status conferred on it, then exports from that country are taxed at the lowest negotiated tariff rates.
A. most-favored-nation B. total-trade-guaranteed C. international-ally D. no-child-labor