Human capital is generally acquired through:
A. job experience, but not training workshops because they are generally specific to certain job types.
B. occupational workshops only,because this is where workers attain job focused skills.
C. training, but not academic education.
D. education, training and experience of workers.
Answer: D
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Given a constant rate of growth of real GDP, what would cause a fall in real GDP per capita?
a. a rate of population growth that is less than the rate of growth of real GDP b. a rate of population growth that is greater than the rate of growth of real GDP c. an increase in the size of the labor force d. an overall decrease in population
A $2 tax per gallon of paint placed on the buyers of paint will shift the demand curve
a. downward by exactly $2. b. downward by less than $2. c. upward by exactly $2. d. upward by less than $2.
Suppose real GDP is $800 billion when the MPC is 0.80, and people decide to increase their saving by $30 billion. Before this change, the economy was in equilibrium with people intending to save $100 billion and producers intending to invest $100 billion. The new equilibrium level of real GDP is:
A. $600 billion. B. $650 billion. C. $680 billion. D. $730 billion.
If the marginal propensity to save (MPS) = 0.25, then
A. the MPC = 0.75. B. the APC = 0.25. C. the APS = 0.25. D. consumption equals $750 when income equals $1,000.