Human capital is an important ingredient in the economic growth of a nation.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Market power guarantees profit
A) True, which is why firm's locate as far away from each other as possible. B) False, market power guarantees price greater than marginal cost. C) True, market power guarantees price greater than average cost. D) False, market power guarantees price equal to average cost.
Another way to think of the marginal seller is the seller who
a. will accept the lowest price of any seller in the market. b. requires the highest price of any potential seller in the market. c. would leave the market first if the price were any lower. d. would leave the market last if the price falls.
Ceteris paribus when technological change allows a smaller amount of a resource to be used in producing any combination of two goods, there will be:
A.) A movement along the production possibilities curve. B.) An outward shift of the production possibilities curve. C.) An inward shift of the production possibilities curve. D.) No change in the production possibilities curve.
The shape of a short-run aggregate supply curve basically depends on what happens to production costs and, therefore, to the prices that businesses must receive to cover costs and make a profit as real domestic output expands.
Answer the following statement true (T) or false (F)