Which of the following is not an investment in human capital?
A. An individual decides to enroll in a vocational training program.
B. The government expands its programs to improve health care.
C. The government increases the level of unemployment benefits.
D. A firm engages in on-the-job training.
Answer: C
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The reason that the prisoner's dilemma presents a dilemma is that:
A. each player has an incentive to play his or her dominated strategy, but when both choose the dominated strategy each player has a lower payoff than if they both had chosen the dominant strategy. B. the market cannot be in equilibrium because the players do not have dominant strategies. C. neither player has a comparative advantage, so neither can infer what the other player will choose. D. each player has an incentive to play his or her dominant strategy, but when both choose the dominant strategy each player has a lower payoff than if they both had chosen the dominated strategy.
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
On January 25, 2009, one U.S. dollar traded on the foreign exchange market for about 3.33 Romanian new lei. Therefore, one Romanian new lei would have purchased about ________ U.S. dollars
A) 0.30 B) 1.86 C) 2.86 D) 3.33
The work of Roger Ransom has shown that the burden of the Navigation Acts on colonial trade to continental Europe
a. was disproportionately large on the Southern colonies. b. amounted to 5 percent of colonial income. c. amounted to less than one percent of colonial income. d. Both a and b are correct. e. Both a and c are correct.