An example of human capital would be
A. A carpenter's saw.
B. Carpentry skills.
C. A computer.
D. All of the choices are correct.
Answer: B
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GDP measured using base year prices is called ________.
A. deflated GDP B. real GDP C. constant GDP D. nominal GDP
"As part of the financial crisis bailout plan in 2008, the Federal Reserve should not bail out banks that made risky loans." This is an example of
A) a positive statement. B) the Federal Reserve taking actions that are not at the margin. C) opportunity costs. D) a normative statement.
The actions taken by arbitrageurs in the foreign exchange markets
a. destabilize foreign exchange markets b. are highly risky c. have no effect on exchange rates d. help assure that exchange rates are equalized across all markets e. are the same as those undertaken by speculators
If the supply curve does not shift, an increase in demand results in a(n)
a. increase in equilibrium price and a decrease in equilibrium quantity b. decrease in equilibrium price and a decrease in equilibrium quantity c. increase in equilibrium price and an increase in equilibrium quantity d. decrease in equilibrium price and an increase in equilibrium quantity e. increase in supply