The causes of prosperity that link high levels of prosperity to high levels of inputs of production, without explaining why the levels of those inputs are high, are referred to as:
A) fundamental causes of prosperity. B) implicit causes of prosperity.
C) proximate causes of prosperity. D) explicit causes of prosperity.
C
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Use the following graph showing short-run cost curves for a perfectly competitive firm to answer the next question.
At what price would the firm earn a normal profit and break even?
A. P1 B. P2 C. P3 D. P4
Suppose there are only 2 nations, Atlantis and Pacifica, and only two goods, surfboards and kayaks. If Atlantis produces only surfboards, it can make 27 per day. If Atlantis produces only kayaks, it can make 18 per day
If Pacifica produces only surfboards, it can make 32 per day. If Pacifica produces only kayaks, it can make 24 per day. After trade begins, ________ will specialize in the production of surfboards and ________ will specialize in the production of kayaks. A) Pacifica; Atlantis B) Atlantis; Atlantis C) Atlantis; Pacifica D) No trade will occur.
When the Fed decreases the money supply, interest rates
a. rise. b. fall. c. are unaffected. d. rise and then fall. e. fall and then rise.
Human capital is generally acquired through:
A. job experience, but not training workshops because they are generally specific to certain job types. B. occupational workshops only,because this is where workers attain job focused skills. C. training, but not academic education. D. education, training and experience of workers.