What is human capital, and how does it affect U.S. productivity?
What will be an ideal response?
Human capital is the knowledge and skills possessed by the workforce. The U.S. economy has invested heavily in human capital through education and job training. The high productivity of the U.S. economy is the direct result of the high quality of its resources, including well-educated workers.
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If individuals will no longer accept a currency, is it still considered to be money? a. No, because one of the main characteristics necessary for something to serve as money is that it must be generally acceptable. b. No, because of Gresham's Law
c. Yes, because the government identifies it as legal tender. d. Yes, because one of the main characteristics necessary for something to serve as money is that it must be generally acceptable.
The demand for computer programmers is inseparably tied to the supply of computer software
a. True b. False Indicate whether the statement is true or false
Distinguish the concepts of comparative advantage and absolute advantage
What will be an ideal response?
Describe the criticisms about decision making at the IMF and the World Bank
Which types of policies are thought to reflect bias? What types of costs are not considered? What is the fundamental question critics raise about the operations of the international governmental economic institutions?