Which factor of production does human capital enhance?
i. land
ii. labor
iii. capital
A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
B
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According to the cost-benefit principle if a change generates $50,000 in gains and $45,000 in losses,
A) it is desirable. B) the gain is not large enough to justify the change. C) the desirability depends on who gains and who loses. D) it is a Pareto improvement.
If the Fed decreases the money supply, gross domestic product: a. increases by the same amount as the increase in the interest rate
b. decreases by a greater amount than the increase in the interest rate because of the multiplier. c. decreases by the same amount as the decrease in investment. d. decreases by a greater amount than the decrease in investment because of the multiplier. e. decreases by a lesser amount than the decrease in investment because of the multiplier.
Price will rise to eliminate a shortage
a. True b. False Indicate whether the statement is true or false
What point on the graph represents maximum consumer confidence?
a. A
b. B
c. C0
d. D