Which of the following statements is true?
A) Firm-specific human capital adds to productivity in only one firm.
B) Firm-specific human capital is equally productive in all industries in an economy.
C) Firm-specific human capital is equally productive in all firms in a particular industry.
D) Industry-specific human capital is equally productive in all industries in an economy.
A
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In the figure above, which budget line results in the most real income in terms of compact discs?
A) AD B) BD C) CD D) Real income is equal for all three budget lines.
The aggregate supply schedule is steeper where the money wage is more variable than where the money wage is fixed because the rise in the money wage in the
a. fixed-wage case dampens the effect on employment and output from an increase in the price level. b. variable-wage case dampens the effect on employment and output from an increase in the price level. c. variable-wage case heightens the effect on employment and output from an increase in the price level. d. all of the above