Sample Midterm

Sample Midterm - UCSD Economics 3 Winter 2008 MULTIPLE...

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UCSD Economics 3 Winter 2008 Sample Midterm 1 1 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. ______ 1. An incentive ______ 2. Human capital is A) all capital owned by individuals or corporations, but not by governments. B) machinery that meets or exceeds federal safety standards for use by humans. C) all capital owned by individuals, but not by corporations or governments. D) the skill and knowledge of workers. ______ 3. The opportunity cost of something you decide to get is A) the lowest valued alternative you give up to get it. B) all the possible alternatives that you give up to get it. C) the amount of money you pay to get it. D) the highest valued alternative you give up to get it.
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