One is ________ likely to invest in human capital the ________ the person's rate of time preference
A) most; higher
B) less; lower
C) more; lower
D) least; lower
C
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In the market for loanable funds, the interaction of the demand for, and supply of, loanable funds determines the equilibrium level of
a. the inflation rate. b. gross domestic product. c. the real interest rate. d. the nominal interest rate.
Suppose tax policies are changed to encourage saving. Explain how the income effect and substitution effect influence the amount saved
The growth of GDP may understate changes in the economy's economic well-being over time if the:
a) distribution of income becomes increasingly unequal. b) quality of products and services improves. c) environment deteriorates because of pollution. d) amount of leisure decreases.
Of the following industries, which are perfectly competitive? For those that are not perfectly competitive, explain why
a. Restaurants b. Corn c. College education d. Local radio and television