Human capital refers to the:
A. skills, experience, and natural talent that determine the productivity of workers.
B. amount of people a firm has access to for production.
C. production per capita.
D. the machinery and tools that labor can use for production.
A. skills, experience, and natural talent that determine the productivity of workers.
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Net capital outflow (NCO) is:
A. domestic dollars invested internationally. B. capital outflow ? capital inflow. C. capital inflow ? capital outflow. D. foreign dollars invested domestically.
Trade deflection is an act that
A) decreases the amount of international trade in the world. B) increases the amount of international trade in the world. C) has no impact on the amount of international trade in the world. D) is illegal among all countries in the world.
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
You own a condominium in Orlando, Florida. During the recent downturn in housing values in the area your condo's value declined by $75,000. Your economic income ________ and your taxable income ________.
A. fell; fell B. fell; was unchanged C. was unchanged; was unchanged D. was unchanged; fell