By human capital, economists mean
A) machines that replace humans.
B) machines engineered to avoid operator injury.
C) the accumulated skill and knowledge of humans.
D) humans who perform repetitive tasks.
C
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An advantage of the proprietorship as a form of business organization is
A) its limited liability. B) its limited access to capital, thus reducing the possible size of debt. C) that it is easy to form. D) that it can sell bonds to the public.
The set of skills, knowledge, experience, and talent that determine the productivity of workers is called:
A. human capital. B. physical capital. C. capital per worker. D. worker per capita.
The entry of new firms into a perfectly competitive market in the long run is most likely the result of
a. temporarily above-normal profit, despite the presence of barriers to entry b. continued above-normal profit, despite the presence of barriers to entry c. temporarily above-normal profit, combined with the absence of barriers to entry d. continued above-normal profit, combined with the absence of barriers to entry e. either temporarily or continued above-normal profit, despite the presence of barriers to entry
When you receive interest on your bank account, that income is part of the economy's __________ income
Fill in the blank(s) with correct word