Human capital theory suggests that everyone's income reflects individual choices about investments in education and training
Indicate whether the statement is true or false
T
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A social system in which rights are clearly defined and participants are free to exchange as they choose will tend to allocate resources to
A) their most efficient uses. B) their most highly valued uses. C) uses on which the highest monetary value is placed. D) uses which maximize social welfare. E) uses which produce the greatest good for the greatest member.
During a(n) ________ many firms experience increased profits, which increases ________ and investment spending
A) expansion; cash flow B) recession; cash flow C) recession; business confidence D) expansion; government spending
When the interest rate on a bond is above the equilibrium interest rate, in the bond market there is excess ________ and the interest rate will ________
A) demand; rise B) demand; fall C) supply; fall D) supply; rise
In recent years, redistribution has been the fastest growing category of federal government outlays
a. True b. False