A medical student's internship at a local hospital is an example of
A. income redistribution.
B. a compensating wage differential.
C. economic income.
D. an investment in human capital.
Answer: D
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Use the following graph to answer the next question.
Which line represents the long-run aggregate supply curve?
A. 1 B. 2 C. 3 D. 4
Holding all other factors constant, consumers demand more of a good the
A) higher its price. B) lower its price. C) steeper the downward slope of the demand curve. D) steeper the upward slope of the demand curve.
Entrepreneurship is
A) the talent for organizing the use of land, labor and capital, among other things. B) skill in influencing government regulators and legislators. C) accumulated technical knowledge in using labor and capital. D) knowledge of the particular natural resources to be found in a given area.
Of the countries in the European Union, ______ have adopted the euro as its currency.
Fill in the blank(s) with the appropriate word(s).