What is Spain's domestic exchange equation?
1 car = 8 TVs
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The labor demand curve slopes downward because
A) the firm maximizes profits by hiring more labor when the real wage rate rises. B) workers supply more hours of work when the real wage rate rises. C) the firm maximizes profits by hiring more labor when the real wage rate falls. D) workers supply fewer hours of work when the real wage rate rises.
Historically, the high level of taxation on dividends relative to capital gains or interest led to _____
a. lower levels of corporate dividends b. higher levels of corporate dividends c. no changes in corporation behavior d. fewer incorporations
Independent, non-monopoly firms have an incentive advantage over monopolies in new-product innovation
Indicate whether the statement is true or false
Human capital is:
A) the set of acquired skills and abilities that workers bring to the production of goods and services. B) the financial wealth the economy has available to produce goods and services. C) the ability to produce one of two goods at relatively lower cost. D) a factor of production only if it occurs naturally.