Which of the following is not an example of human capital formation?
A. Increases in the educational achievements of the population
B. Improvements in the nutrition and health of the labor force
C. Increases in job skills of the labor force
D. Increases in the birth rate of the population
Answer: D
Economics
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Refer to Figure 4-9. What is the size of the unit tax?
A) $8 B) $5 C) $3 D) cannot be determined from the figure
Economics
Assume that the government of a nation prohibits producers from extracting crude oil from some domestic oil fields. Which of the following will be witnessed in the market for crude oil?
a. The domestic and world price of crude oil would remain unaffected. b. The domestic price of crude oil would increase. c. Oil import from the world market would decline. d. The world price of crude oil would increase.
Economics