Which of the following is an example of human capital?
a. a student loan
b. knowledge learned from reading books
c. training videos for new corporate employees
d. All of the above are correct.
b
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Which of the following is a microeconomic topic?
i) Gas prices increase after a hurricane hits the gulf coast. ii) Xavier starts a new business designing web pages. iii) Abby decides to practice an extra hour of soccer instead of studying. A. i, ii and iii
Social Security is not compulsory. Wage earners do not have to belong to it
Indicate whether the statement is true or false
While demand shifts have an effect on equilibrium price and quantity, supply shifts have no such effect
a. True b. False Indicate whether the statement is true or false
Natural monopolies differ from other forms of monopoly because they are
a. not subject to barriers to entry. b. not regulated by government. c. unable to sustain long-run profits. d. are generally not worried about competition eroding their monopoly position in the market.