In economic terminology, the accumulated training and education that workers receive that increases their productivity is referred to as
A) entrepreneurship.
B) human capital.
C) labor.
D) physical capital.
B) human capital.
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The Federal Reserve System was created by the
A) Supreme Court. B) President. C) U.S. Treasury. D) Congress.
In the above figure, the equilibrium exchange rate between U.S. dollars and British pounds is
A) A. B) B. C) C. D) W.
In the electric power industry, residential customers have relatively ____ demand for electricity compared with large industrial users. But contrary to price discrimination, large industrial users generally are charged ____ rates
a. similar, similar b. elastic, lower c. elastic, higher d. inelastic, lower e. inelastic, higher
If Brazil can produce 5 shirts or 4 pounds of beef in a day, and Uruguay can produce 10 shirts or 2 pounds of beef in a day, then Brazil has a comparative advantage in the production of beef
a. True b. False Indicate whether the statement is true or false