Which theory states that education makes workers more productive?
human-capital theory
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Why might the Federal Reserve take an action that reverses expansionary fiscal policy?
A. In order to fight the unemployment caused by the expansionary fiscal policy B. In order to fight the deflation caused by the expansionary fiscal policy C. In order to fight the inflation caused by the expansionary fiscal policy D. To demonstrate its independence from the government
The production of 1,000 shirts leaves an apparel manufacturer with a capacity to produce no more than 1,100 trousers during a month. This implies:
a. the production level is inefficient. b. that if the production of trousers is reduced, that of shirts will also decline. c. that a reallocation of resources may make previously unachievable outcomes achievable. d. the production level is efficient.