With more job training and more scholarships to poor American students, which special factor of production is likely to grow faster than in the past?
What will be an ideal response?
As more people go to school and/or receive job training, the na-tion's human capital will grow more rapidly. Human capital is the know-ledge and skills people obtain from education, on-the-job training, and work experience. With more job training and more scholarships, human capital will grow more rapidly.
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If firms in a particular market sell similar or identical products, then the market is (i) perfectly competitive. (ii) monopolistically competitive. (iii) an oligopoly
a. (i) or (ii) only b. (ii) or (iii) only c. (i) or (iii) only d. (i) only
The interest rate:
A. is the price of borrowing money for a specified period of time. B. determines the total amount that must be paid back on a loan. C. is expressed as a percentage per dollar borrowed and per unit of time. D. All of these are true.
The short-run aggregate supply curve is upward sloping because...
What will be an ideal response?
According to the text, which of the following factors may make the theory of purchasing power parity unrealistic?
A) Trading countries may stop exchanging goods once prices between them equalize. B) Shipping, insurance, and transaction costs may reduce the implication of purchasing power parity. C) Prices may not equalize if goods arbitrage is reduced by trade barriers. D) The effects of purchasing power parity may not show up until many years have passed.