The skills and knowledge gained by a worker through education and experience are ____________ .
a. production possibilities.
b. physical capital.
c. human capital.
d. entrepreneurial.
Ans: c. human capital.
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Supply-side economics stress that: a. aggregate demand is the major determinant of real output and aggregate employment
b. tax rates are not a major determinant of real output and aggregate employment. c. an increase in government expenditures financed by higher tax rates will cause RGDP to rise. d. marginal tax rate changes can exert a significant impact on RGDP, even in the long run.
Assume a U.S. investor buys a Mexican bond with a face value of MXP 1,000 and a 20 percent annual interest yield while the exchange rate is MXP 10 per dollar. What is the dollar return from the bond if the exchange rate at the end of the year is MXP 11 per dollar?
a. 9.1% b. 10.0% c. 18.2% d. 20.0% e. 32.0%
How can the Fed reduce a continuing inflation?
a. By slowing the continuing downward shift of the aggregate supply curve b. By increasing the money supply c. By slowing the continuing leftward shift of the aggregate demand curve d. By decreasing the required reserve ratio e. By slowing the continuing rightward shift of the aggregate demand curve.
If a price searcher is producing at a level of output such that its marginal cost is $16 and its marginal revenue is $9, the firm should
a. increase output in order to reduce per-unit costs. b. decrease the price of its product and expand output. c. increase price and reduce its rate of output. d. reduce both price and output.