The machines workers have to work with are considered
A) entrepreneurship. B) financial capital. C) human capital. D) physical capital.
D
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If the nominal interest rate is below the equilibrium value, then the quantity demanded of money is ________ than the quantity supplied of money, bond prices will ________, and the nominal interest rate will ________.
A. greater; rise; increase B. less; fall; increase C. greater; fall; decrease D. greater; fall; increase
How much has government spending as a percentage of GDP been in recent decades?
a. 2 percent b. 10 percent c. 20 percent d. 35 percent
If the price elasticity of demand for a good is 0.5, then a 5 percent increase in price results in a
a. 0.1 percent decrease in the quantity demanded. b. 1 percent decrease in the quantity demanded. c. 2.5 percent decrease in the quantity demanded. d. 10 percent decrease in the quantity demanded.
A normative statement is generally based upon:
A. scientific fact. B. a factual claim. C. subjective beliefs. D. data that can be tested.