The time spent by students in college
a. leads to lower lifetime earnings because opportunity costs are high.
b. is an investment in human capital.
c. decreases human capital by lowering work experience.
d. increases as the wages paid to low-skilled workers rise.
b
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What other curve is the same as the market supply curve? Why are the curves the same?
What will be an ideal response?
Air pollution is more dangerous to the public, but toxic waste generates more public uproar. Why?
a. Those exposed to the health hazard posed by the toxic waste site are usually less sure that exposure has occurred. b. Those exposed to the health hazard posed by the toxic waste site are usually more sure that exposure has occurred. c. Fewer people cause air pollution than toxic waste. d. Fewer people are affected by air pollution than by toxic waste. e. Toxic waste causes more illness and death than air pollution does.
The standard measure of the money stock, M1, refers to
a. checking account balances, travelers' checks, and cash in the hands of the public b. cash in the hands of the public, demand deposits, and small time deposits c. cash in the hands of the public, savings-type account balances, and travelers' checks d. savings-type account balances, small time deposits, and checking account deposits e. the sum of the cash in the hands of the public
At present, what is the approximate natural rate of unemployment in the United States?
a. 4.5 percent b. 5.5 percent c. 7 percent d. 8.5 percent e. 2.5 percent