All types of capital
a. are forms of resources that can be used in future production
b. require a physical existence
c. earn an economic rent
d. yield profits for their owners
e. require obtaining more education and job skills
A
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Refer to Scenario 1 . If you start the course in such a way that each exam score is better than your previous average what should happen to your average score? What would happen to your average if it was below your previous exam score? Explain
What will be an ideal response?
If the production of a good generates a detrimental externality, then at that level of production of the good under perfect competition,
a. MSC > P. b. MPC > MSC. c. P > MU. d. MPC > P.
Like physical capital, human capital is a produced factor of production
a. True b. False Indicate whether the statement is true or false
Based on the table showing income inequality in the United States, what happened to the lowest fifth’s share of income between 1935 and 2017?
a. The percentage of income steadily dropped over time.
b. The percentage of income steadily increased over time.
c. The percentage of income dropped but then grew to higher than ever.
d. The percentage of income grew but then dropped to lower than ever.