A(n) ________ in human capital ________ the productivity of labor.
A. increase; has no impact on
B. increase; increases
C. decrease; has no impact on
D. decrease; increases
Answer: B
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Do automatic fiscal stabilizers eliminate business cycles?
A) Yes B) No, because they have no effect if the business cycle is the result of some unanticipated change C) No, but they do moderate business cycles D) No, they increase the likelihood that a business cycle occurs E) No, they make business cycle fluctuations more severe
If two firms produce the same product but have different supply curves,
A) this would indicate that some other variable differs across the two firms. B) this would indicate that all variables are the same across the two firms. C) this would indicate that one or both of the firm's managers are misinformed. D) this would indicate a need for government regulation.
The market for used cars is shown in the above figure. Buyers cannot tell whether any given car is a lemon. Forty percent (40%) of all cars are lemons. Which of the following statements is true?
A) All of the cars will be sold. B) No cars will be sold. C) Only lemons will be sold. D) Ten percent of the used cars sold will be lemons.
The two types of imperfectly competitive markets are
a. monopoly and monopolistic competition. b. monopoly and oligopoly. c. monopolistic competition and oligopoly. d. monopolistic competition and cartels.