Which of the following statements regarding human capital is INCORRECT?
A) Human capital is the accumulated skill and knowledge of human beings.
B) Education is the only vehicle for the creation of human capital because training simply reinforces what has already been learned.
C) The accumulation of human capital is the source of both increased productivity and technological advance.
D) Writing and mathematics, the most basic of human skills, are crucial elements in economic progress.
B
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Suppose a monopolist's costs and revenues are as follows: ATC = $50.00; MC = $35.00; MR = $45.00; P = $55.00. The firm should
A) increase output and decrease price. B) decrease output and increase price. C) not change output or price. D) shut down.
Adult population 200 million labor force 150 million employed persons 138.75 million Discouraged workers 10.5 million According to the accompanying labor data, the unemployment rate is
What will be an ideal response?
The rule of 72 implies that a country with a growth rate of 6 percent will double its income in about:
A. 8 years. B. 16 years. C. 12 years. D. 6 years.
All the following actions represent fiscal policy EXCEPT
A. a reduction in individual income tax rates. B. an increase in corporate income tax rates. C. a decrease in government spending. D. an increase in the money supply.