Ricky leaves his job as a high school math teacher and returns to school to study the latest developments in computer programming, after which he takes a higher paying job at a software firm. This is an example of
a. A compensating differential.
b. Human capital.
c. Signaling.
d. Efficiency wages
b. Human capital
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
The United States uses a single payer model of healthcare in which the government pays for all healthcare. Because a single payer model of health care creates no deadweight loss, most economists agree that the U.S. system of health care is efficient
A) Both sentences are false. B) The first sentence is false; the second sentence is correct. C) The first sentence is correct; the second sentence is false. D) Both sentences are correct.
Using AK growth models and assuming that the labor force is fixed at the value of 1,
A) real GDP per worker is greater than real GDP per capita. B) real GDP per capita is less than real GDP. C) real GDP is greater than real GDP per worker and real GDP per capita. D) there is essentially no difference in real GDP, real GDP per worker, and real GDP per capita.
Samantha has been working for a law firm and earning an annual salary of $90,000 . She decides to open her own practice. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Samantha will cover her start-up expenses by cashing in a $20,000 certificate of deposit on which
she was earning annual interest of $1,000 . Assuming that there are no additional expenses, Samantha's annual explicit costs will equal a. $55,200 b. $221,400 c. $91,000 d. $146,200 e. $145,200