The supply of human capital to a particular use is
a. perfectly inelastic in the short run.
b. perfectly elastic in the long run.
c. more inelastic in the short run since it takes time for persons to acquire a particular skill.
d. more elastic in the short run since individuals who already possess the particular skill can be attracted into the labor force in the short run.
C
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If a French company exports $2 million of machinery to Italy and French tourists spend $2 million at Italian beaches, the Italian current account balance ________, and the Italian financial account balance ________
A) rises; rises B) rises; is unchanged C) is unchanged; is unchanged D) is unchanged; rises
Selling the same product under different brand names allows a firm to price discriminate as long as
A) customers know the products are identical. B) customers do not know the products are identical. C) the products really are not the same. D) the firm lets customers know that the products are identical.