As a country's human capital increases, we observe that
A. Worker productivity increases.
B. Sector service jobs decreases.
C. Labor-intensive production processes increases.
D. None of the choices are correct.
Answer: A
You might also like to view...
Expenditures on social programs, such as health care and income security, constitute more than half of U.S. federal expenditures in 2016.
Answer the following statement true (T) or false (F)
After the deregulation of the airline industry, the new airlines had a competitive cost advantage over the older ones as:
a. they could practice price discrimination. b. they did not bear any legacy cost. c. they enjoyed economies of scale. d. they had to pay lower fuel surcharge.
A two-player game has an equilibrium outcome
a. only if both players have dominant strategies b. if neither player has a dominant strategy c. whenever one player has a dominant strategy d. only with tit-for-tat strategy e. only with repeated trials
Adam Smith's invisible hand refers to
A) the government's unobtrusive role in ensuring that the economy functions efficiently. B) property ownership laws and the rule of the court system. C) the process by which individuals acting in their own self-interest bring about a market outcome that benefits society as a whole. D) the laws of nature that influence economics decisions.