Which of the following is not an example of human capital formation?
A) Increases in the educational achievements of the population
B) Increases in job skills of the labor force
C) Improvements in the nutrition and health of the labor force
D) Increases in the birth rate of the population
D
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If the required reserve ratio is 20 percent and the Fed buys a $10,000 security from a depository institution that currently has no excess reserves, the money supply: a. decreases by $10,000. b. increases by $5,000
c. decreases by $5,000. d. increases by $50,000. e. decreases by $50,000.
In the short run, a firm can:
a. change its machinery, but not the number of workers. b. change the number of workers, but not its machinery. c. change its machinery, but not the number of workers. d. change the number of workers, but not its machinery.
For a cartel to be successful in increasing economic profits for its members:
A. individual firms must be encouraged to adjust output so as to maximize their own profits at the cartel price. B. entry of new firms must be blocked. C. price must be set equal to marginal cost. D. price must be set equal to average total cost.
An industry in which the firm's cost structures do not vary with changes in production will have a long-run supply curve that
A. is perfectly elastic. B. slopes downward. C. is perfectly inelastic. D. slopes upward.