Which of the following would an economist classify as capital?
A. a corporate bond
B. a $50 bill
C. a guitar used by a musician
D. a post office employee
Answer: C
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Gil can consume either pens or milkshakes. Both pens and milkshakes sell for $1. Gil finds that when his income is spent, his marginal utility of pens will be 10 while his marginal utility of milkshakes will be 8
Gil could increase his utility without violating his budget by consuming A) more pens and fewer milkshakes. B) more pens and more milkshakes. C) fewer pens and fewer milkshakes. D) fewer pens and more milkshakes.
Staggered, overlapping contracts mean
A) the contract between workers and firms can be opened for renegotiation if other key firms in the industry have signed a new contract within the last ninety days. B) each firm within an industry agrees to negotiate with the union according to a schedule. C) not all labor contracts within the economy expire at the same time. D) different contracts are reached for the different skill classifications of workers within a firm.
All of the following are examples of human capital except:
A. the ability to write clearly. B. knowledge of word processing programs. C. the ability to coordinate labor effectively. D. a computer which has top-of-the-line word processing software.
The NPV of a project rises as the discount rate rises
Indicate whether the statement is true or false