Which of the following is the most important contributor to human capital?
a. education
b. effort
c. chance
d. physical strength
a
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A perfectly competitive firm that earns a normal profit in the long run actually earns zero economic profit
a. True b. False Indicate whether the statement is true or false
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.
When a bank's loans are written off, it means that the bank's:
A. Reserves are reduced, while its debt increases B. Reserves rise along with its debt C. Reserves fall along with its debt D. Reserves shrink, whereas its debt remains the same
The factors of production include all goods and services produced in an economy.
Answer the following statement true (T) or false (F)