Which of the following is the least tangible?
a. Social capital
b. Physical capital
c. Human capital
d. All of these choices
Answer: a. Social capital
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The following data relate to the supply schedule of a product.PriceQuantity Supplied$51001020015250203002535030500Over which price range is the elasticity of supply greater than 1?
A. $20 to $25 B. $10 to $15 C. $15 to $20 D. $25 to $30
Macroeconomics deals with
A) aggregates within the economy. B) specific sectors within the economy. C) the retail industry only. D) decisions made by firms.
Which of the following can shift the labor demand curve to the left?
a. decrease in the price of the good b. increase in the wage rate c. decrease in the wage rate d. increase in MPP e. increase in labor productivity
Entry by new firms into a monopolistically competitive market
a. creates additional consumer surplus. b. imposes a positive externality on existing firms. c. leads to the same externalities that are observed when new firms enter a perfectly competitive market. d. increases the demand for existing firms' products.