Human capital is equally, if not more, important than physical capital
Indicate whether the statement is true or false
TRUE
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The concept of opportunity cost is more applicable to society as a whole than it is for an individual household.
Answer the following statement true (T) or false (F)
Which of the following situations will arise in the domestic market following the imposition of a tariff?
A) imports decrease, domestic production increases, prices decrease B) imports decrease, domestic production increases, prices increase C) imports increase, domestic production decreases, prices decrease D) imports increase, domestic production increases, prices increase
The term ________ refers to how the burden of the tax is distributed across various agents in the economy
A) tax funding B) tax incidence C) tax haven D) tax discrimination
If we are interested in knowing whether a poor country is improving economically, we want to know not only what the economic growth rate is, but also
A) whether the economic growth rate is faster than other nations' growth rates. B) whether government spending is growing at the same rate. C) whether the economic growth rate is greater than last year's rate. D) whether the lowest income groups are benefiting from the growth.