Which theory would support the idea that education does not enhance productivity and therefore raising all workers' educational levels would not affect wages?
a. signaling theory
b. human-capital theory
c. physical-capital theory
d. the efficient-market hypothesis
a
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How are the slope of a production possibilities frontier and the opportunity cost of the goods related?
A. The slope is a graphical representation of the cost of expanding production of both goods. B. The slope is a graphical measure of the growth rate of the economy. C. The slope is a graphical representation of the cost of decreasing unemployment. D. The slope is a graphical representation of the rate of trade-off between the goods. E. The slope is a graphical representation of the cost of economic growth in the economy.
A citizen who acquires good information about the candidates before voting in a presidential election thereby
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A) perfectly elastic. B) unit elastic. C) inelastic. D) elastic.