A key difference between human capital and technology is that ________
A) human capital is excludable
B) human capital is nonrival
C) scarce resources are used in the production of human capital
D) technology is an input in the production of new technology
A
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The argument that raising the employment tax leads to more employment is most likely to hold if the
A) labor supply curve has the same slope as labor demand. B) labor supply curve has a steep slope. C) labor demand curve is vertical. D) labor supply curve has a relatively flat slope.
College students and faculty members have a more elastic demand than the general public for Apple's iMac desktop computers. From this we can conclude that
A) Apple will earn economic profits from the computers it sells to the general public but will break even on the computers it sells to college students and faculty members. B) Apple will charge college students and faculty members lower prices than it charges the general public. C) the general public will earn arbitrage profits by buying iMac desktop computers from Apple and reselling them to college students and faculty members. D) Apple will charge college students and faculty members higher prices than it charges the general public.