Which of the following factors is not part of an individual's stock of human capital?
A. Initiative
B. Intelligence
C. Years of education
D. Employment status
Answer: D
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The current chair of the Board of Governors of the Federal Reserve is
A) Janet Yellen. B) John Snow. C) Alan Greenspan. D) Henry Paulson.
An increase in the price of the good measured on the horizontal axis of a budget line diagram will
a. make the budget line flatter b. make the budget line steeper c. leave the budget line unchanged d. cause a parallel inward shift of the budget line e. cause a parallel outward shift of the budget line
If Stimpson University increases tuition in order to increase its revenue, it will:
A. not be successful if the demand curve slopes downward. B. be successful if demand is elastic. C. be successful if demand is inelastic. D. be successful if supply is elastic.
Modern economists are increasingly using microeconomic analysis in macroeconomics because
A. macroeconomic subjects such as inflation affect all individuals. B. microeconomic theory is more scientific. C. aggregate outcomes stem from decisions made by individuals, business firms and government. D. macroeconomics is older and more outdated.