Workers compete against workers who have:
A. the exact same type of human capital.
B. similar human capital.
C. totally different human capital.
D. all levels of human capital.
B. similar human capital.
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The United States is a country with a high saving rate
Indicate whether the statement is true or false
Technical efficiency
A) ignores the values of the chooser. B) is a necessary precondition for the attainment of economic efficiency. C) is always attained if economic efficiency is achieved. D) is attained whenever the ratio of physical output to physical input is greater than unity. E) is easier to achieve than economic efficiency.
Refer to Table 3-1. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $4, the quantity demanded in the market would be
A) 40 lbs. B) 70 lbs. C) 110 lbs. D) 150 lbs.
In the United States, out-of-pocket spending on health care as a percentage of all spending on health care has ________ since 1960
A) remained stable B) more than doubled C) slowly risen D) steadily declined