Perry accumulated a lot of mathematical skills while in high school, college, and graduate school. Economists include these skills as part of Perry's
a. proprietary knowledge.
b. technological knowledge.
c. human capital.
d. physical capital.
c
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
How does money make the circular flow model more efficient
A. Neither the product nor resource market can exist without money. B. Money gives firms an advantage over households, since they have more money. C. Money makes the product market more important than the resource market D. Having a common medium of exchange, like money, eliminates the need to barter.
Which of the following is a likely consequence of a price ceiling that fixes the price of rental housing below the market equilibrium?
a. It will be difficult to find housing for rent. b. More new apartments will be built. c. Some rental apartments will be converted into offices or sold for other uses rather than be rented. d. All of the above are true. e. Both a and c are correct.
In the long run
A. all inputs are variable. B. all intermediate goods are fixed. C. only capital inputs are fixed. D. all inputs are fixed.