The more specialized and highly valued a worker's skills are,
a. the lower is her stock of human capital.
b. the more likely she is to earn economic rent.
c. the less likely she is to sell her skills on the primary labor market.
d. the more likely she is to be directly affected by minimum wage legislation.
b
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Select the phrase that correctly completes the following statement. "A decrease in the expected future price caused an increase in the supply of smartphones. As a result
A) the equilibrium quantity of smartphones decreased." B) the price of smartphones decreased and the quantity of smartphones demanded increased." C) the price of smartphones decreased and the demand for smartphones increased." D) the price of smartphones decreased. The lower price caused the supply of smartphones to decrease."
A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive. Then, the price rises to $25, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its
a. quantity of output is higher than it was previously. b. average total cost is higher than it was previously. c. marginal revenue is higher than it was previously. d. All of the above are correct.
The variance of a portfolio containing n assets with independent returns:
A. increases as n increases. B. decreases as n increases. C. does not change in a predictable way when n increases. D. is constant for any n greater than two.
________ tended to increase spending on health care in the United States
A) The aging of the U.S. population, rather than advances in medical technology, has B) Advances in medical technology, rather than the aging of the U.S. population, has C) Neither the aging of the U.S. population, nor advances in medical technology, have D) The aging of the U.S. population, as well as advances in medical technology, have