In economic terminology, the accumulated training and education that workers receive to increase their productivity is referred to as
A. human capital.
B. labor.
C. entrepreneurship.
D. physical capital.
Answer: A
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Government debt ________ the amount of savings available to firms and thus ________ the amount of capital in the economy
A) decreases; increases B) increases; decreases C) decreases; decreases D) increases; increases
What is the purpose of the following figure?
What will be an ideal response?
The "exotic" mortgage instrument of recent years is exemplified by the
A. "traditional" mortgage. B. "magical-mystery" mortgage. C. "interest-only" mortgage. D. bank mortgage loan.
If the costs of labor and capital increase in the same proportion, the isocost line will
A) stay the same. B) shift outward in a parallel fashion. C) rotate inward around the point where only capital is employed in production. D) shift inward in a parallel fashion.