Human capital consists of the skills and knowledge that workers possess
a. True
b. False
A
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A restaurant purchases a package of sandwich buns for 50 cents. The buns are ________ good in this case, and thus its purchase ________ a transaction that is included in GDP
A) a final, is B) a final, is not C) an intermediate, is D) an intermediate, is not
A decrease in demand will cause a decrease in price, which will cause a decrease in supply
a. True b. False Indicate whether the statement is true or false
When a particular negative externality affects a very large number of people, it is likely that
a. government will not find it worthwhile to impose a corrective tax. b. private solutions to the problem will dominate any attempt by government to alleviate the problem. c. the solution to externalities suggested by the Coase theorem will work very well. d. the solution to externalities suggested by the Coase theorem will not work.
One reason for increasing costs industries is that as an industry grows, it drives up the prices of inputs.
Answer the following statement true (T) or false (F)