Human capital is defined as the
A) amount of machinery human beings have.
B) number of factories built for human beings.
C) accumulated skill and knowledge of human beings.
D) accumulated amount of machinery and factories human beings own.
E) skills that people are born with.
C
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Why has the cartel in diary farming not been broken up?
a. Organized crime is used to enforce a dairy compact. b. The dairy industry is exempt from anti-trust laws. c. Consumers do not mind paying higher prices for milk. d. Economic studies indicate that to do so would decrease efficiency.
Which produces more output: a perfectly price discriminating monopoly or a single-price monopoly?
What will be an ideal response?
A perceived permanent rise in the rate of money growth will cause what long-run effects in the economy?
a. a rise in the nominal rate of interest and a rise in inflation by the same percentage b. a rise in the nominal rate of interest and a rise in real GDP by the same percentage c. a fall in the nominal rate of interest and a rise in inflation by the same percentage d. a fall in the nominal rate of interest and a fall in real GDP by the same percentage
A British importer buying American wheat would pay for his purchases in __________.
Fill in the blank(s) with the appropriate word(s).