The slope of the wage-schooling locus provides an estimate of the
A. marginal cost of an additional year of schooling.
B. economic return to an additional year of schooling.
C. average wage or salary of workers for a given level of schooling.
D. average years of education as a function of age.
E. economic cost of an additional year of schooling.
Answer: B
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The table above gives information about the economy of France. The growth rate of real GDP per person in 1998 is ________ percent
A) 0.4 B) 3.1 C) 1.9 D) 3.6 E) 4.0
One topic of study for a microeconomist would be the
A) causes of inflation. B) causes of a nation's unemployment level. C) effects of a gasoline price increase on consumer behavior. D) effects of an increase in government spending on overall economic activity.
The limits of the terms of trade are determined by the:
a. distribution costs in each country. b. stock of foreign exchange in each country. c. average total costs of producing the commodities in each country. d. opportunity costs in each country. e. currency exchange rate between the trading partners.
An increase in government spending will shift the aggregate demand curve to the left.
Answer the following statement true (T) or false (F)