Fogel (1964) showed that railroad construction after the Civil War dominated the markets for which of the following?
(a) Steel
(b) Coal
(c) Wood
(d) None of the above
(d)
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Human capital is
A. how firms use more humans than machines in the production process. B. the accumulation of investments that make people more productive. C. more costly than other forms of capital. D. none of these answer options are correct.
Current income maintenance programs
A) often provide benefits to people who are working and earning substantially more than the poverty level. B) reduce the incentive of recipients to work. C) have safeguards to ensure that recipients work whenever physically able. D) fail to make the income distribution more equal.
If advertising reduces a consumer's price sensitivity between identical goods, it is likely to
a. increase the elasticity of demand for differentiated products. b. enhance competition and encourage more product diversity. c. reduce competition and reduce social welfare. d. encourage the consumption of all homogenous goods.
According to the World View excerpt that compares GDP figures for several nations, Russia's real GDP is approximately
A. More than that of China. B. More than that of Germany. C. More than that of Mexico. D. None of the choices are correct.