Does low human capital cause poverty or does poverty cause low human capital?
A. The causality works both ways.
B. Low human capital causes poverty, not the other way around.
C. Poverty causes low human capital, not the other way around.
D. There is no causal link between low human capital and poverty.
A. The causality works both ways.
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For substitutes, cross price elasticity of demand is:
a. Negative b. Positive c. between zero and one only d. zero.
In discussing trade, it is ____ that matters rather than ____
a. absolute advantage: elastic advantage b. comparative advantage; absolute advantage c. entire advantage; comparative advantage d. elastic advantage; entire advantage e. declarative advantage; absolute advantage
Crowding out results when an increase in government spending leads to declines in consumption, investment, and/or net exports
Indicate whether the statement is true or false
If the graph shown is displaying a competitive labor market:
A. Q* would represent the equilibrium wage. B. S would represent the firm's supply of jobs at each wage. C. P* would represent the equilibrium wage. D. S would represent an individual worker's supply of labor at each wage.