People add to their stock of human capital
A) by being lucky.
B) by currying favor with powerful people.
C) by going to school.
D) by practicing their skills.
E) in all of the above ways.
E
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In a two-period model with production, a permanent increase in domestic government spending
A) increases domestic output and increases the current account surplus. B) increases domestic output and decreases the current account surplus. C) decreases domestic output and increases the current account surplus. D) decreases domestic output and decreases the current account surplus.
One of the most dramatic bank failures of the 1980s was the demise of Chicago's Continental Illinois Bank. Continental ran into problems because it
a. acquired deficient earth moving machinery from Caterpillar b. acquired a series of unsound assets from Penn Square Bank of Oklahoma City c. invested too heavily in the Brazilian economy in the 1970s d. financed deficit spending by Archer Daniels Midland e. sued the FDIC and failed
If Jenna buys a CD at a price of $10, she gets a consumer surplus of $20 . This means she
a. does not have enough money to buy the CD b. will not buy the CD since marginal utility is not high enough c. was willing to pay as much as $30 for the CD d. was willing to pay as much as $20 for the CD e. will have $30 left over after she buys the CD
The act of buying at a low price in one place and selling at a high price in another place is called relative pricing.
Answer the following statement true (T) or false (F)