What is human capital?
A. Immigrant labor
B. Someone who operates heavy equipment
C. Your professor's knowledge of the economy
D. A car assembly line robot
C Answer C uses the definition of human capital on page 35.
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Which of the following is TRUE regarding the distribution of wealth and the distribution of income?
A) The distribution of wealth is a less accurate measure of inequality because it excludes human capital. B) The distribution of wealth is a more accurate measure of inequality because it includes houses. C) The distribution of income is a less accurate measure of inequality because it excludes the value of things you own. D) The distribution of income is a less accurate measure of inequality because not everyone has a job.
If crowding out occurs, the Main Burden of the debt is
a. smaller government assets passed along to the next generation. b. smaller capital stock passed along to the next generation. c. fewer government services during this generation. d. higher debt payments passed along to the next generation.
Suppose bank A has assets of 100, liabilities of 60, and capital of 40. Its leverage ratio is
A) 1.5. B) 2.5. C) 0.6. D) 0.4.
The more bowed out the Lorenz curve is, the
A) more equal the distribution of income. B) less equal the distribution of income. C) richer the society. D) poorer the society.