Human capital contributes to growth because it helps workers in the economy:
A. produce more with the same amount of physical capital.
B. work smarter.
C. be more productive with their time.
D. All of these are true.
D. All of these are true.
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Each member of the Federal Reserve's Board of Governors is appointed for life
a. True b. False Indicate whether the statement is true or false
When the price elasticity of demand is large, then
a. the product is more likely to be a necessity. b. the responsiveness of quantity demanded to a change in price is small. c. the percentage change in price divided by the percentage change in quantity demanded is large. d. the responsiveness of quantity demanded to a change in price is large.
If coal and oil are substitute inputs in the production of electricity, an increase in the price of oil
a. will increase the demand for coal. b. will reduce the demand for coal. c. will increase the supply of coal. d. will reduce the supply of coal. e. will not affect the demand for coal.
Table 29-1Effects of an open-market transaction on the balance sheets of banks and the fed (in millions of dollars) Banks ? Federal Reserve System ? Assets Liab. Assets Liab. Reserves +$10 ? U.S. Gov’t Bank Reserves U.S. Gov’t ? Sec. +$10 +$10 Securities?$10 ? ? ? ? In Table 29-1, the Federal Reserve System has
A. sold $10 million in government securities to banks, taking payment in cash. B. sold $10 million in government securities to banks, taking payment from the bank’s reserves. C. purchased $10 million in government securities from banks, paying for them with increases in banks’ reserves. D. purchased $10 million in government securities from banks, paying for them with new Federal Reserve notes.