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.
D. a computer which has top-of-the-line word processing software.
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Refer to Table 12-1. Suppose the fixed cost of production rises by $500 and the price per unit is still $8. What happens to the firm's profit-maximizing output level?
A) It must rise to offset the increased cost. B) It must fall. C) The firm will shut down. D) It will remain the same.
In the last 20 years, all of the countries in Africa have experienced positive economic growth
Indicate whether the statement is true or false
In the simplest Keynesian model of the determination of income, interest rates are assumed to be
A) exogenous and to gradually change. B) endogenous and to gradually change. C) exogenous and to remain constant. D) endogenous and to remain constant.
To sell more units, a monopolist
A) simply moves across its horizontal demand curve to a larger quantity. B) moves down its demand curve to a lower price that will increase quantity demand. C) can continue to receive the same price it always has as long as it has its customers' goodwill. D) must be willing to lower the barriers to entry that have protected it.