Why is knowledge considered a type of capital?
What will be an ideal response?
Knowledge is human capital. Knowledge is considered capital because it yields valuable services to a firm over time in the same way that other types of capital (such as machinery) do.
You might also like to view...
Which of the following is an example of cyclical unemployment?
a. A recent college graduate still looking for her first job b. A car salesman who loses his job because of a recession c. A ski instructor who is out of work during the summer d. An economics journalist who just quit her writing job in order to begin a new career as a college professor next month e. A worker displaced from his factory job because of greater mechanization in the workplace
Shares of ownership in corporations are referred to as:
A. stocks. B. collateral. C. limited liability. D. bonds.
The age-earning cycle usually begins
A. only when a worker is employed full time. B. at relatively low income levels. C. once a worker reaches 25 years of age. D. at relatively high income levels.
Instrument independence is the ability of ________ to set monetary policy ________
A) the central bank; goals B) Congress; goals C) Congress; instruments D) the central bank; instruments