The knowledge and skills that people in the workforce acquire through? education, on-the-job? training, and? self-teaching is referred to as
What will be an ideal response?
human capital
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A decrease in stock prices alters the consumption function by:
A. decreasing disposable income. B. increasing autonomous consumption. C. decreasing autonomous consumption. D. increasing disposable income.
Curve A is always declining because
a. marginal product first decreases, then increases b. of diminishing marginal product. c. we are dividing fixed costs by higher and higher levels of output. d. marginal product first increases, then decreases.
A PPF is bowed outward as a result of
A) constant opportunity costs. B) increasing opportunity costs. C) decreasing opportunity costs. D) scarcity. E) choice.
Refer to the accompanying figure. An increase in demand is represented by a shift from:
A. curve C to curve D. B. curve D to curve C. C. curve B to curve A. D. curve A to curve B.