What is human capital, and what factors contribute to human capital development?
What will be an ideal response?
Human capital refers to the knowledge and skills possessed by the workforce. Education and training add to human capital and make people more productive. Basic health care also allows workers to become more productive. This includes access to clean water, adequate sanitation, and immunizations against common diseases plus the availability of health care professionals.
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In June 2008, $1 bought 104 yen and in October, $1 bought 93 yen. This change means
A) U.S. exports became more expensive for Japanese buyers. B) there will be a movement down along the demand curve for dollars. C) there was an increase in the value in the dollar, relative to the yen. D) the dollar appreciated relative to the yen.
Refer to the above figure. Suppose the economy is at E and the government uses an expansionary fiscal policy to move the aggregate demand curve to AD2. In the end, the aggregate demand curve is still AD1. A possible reason for this is that
A) the economy is already at full employment. B) the increased borrowing causes higher interest rates, which encourage people to save more and increase investment spending due to the extra saving. C) people increase saving because they anticipate higher future taxes, resulting in a reduction in current consumption spending that offsets the increased government spending. D) some of the increased government spending is not counted in GDP.
Which of the following is correct?
a. Monetarists believe there is a direct link between changes in a nation's money supply and changes in expenditures. b. Monetarists believe there is no short-term link between changes in a nation's money supply and changes in expenditures. c. Keynesians believe there is no short-term link between changes in a nation's money supply and changes in expenditures. d. Keynesians believe there is a direct link between changes in a nation's money supply and changes in expenditures. e. None of the above.
Look at the following data: GDP = $3,590 billion; consumption = $1,820 billion; exports = $450 billion; investment = $1,250 billion; government purchases = $900 billion. Imports is equal to __________ billion.
A. $830 B. $1,460 C. -$830 D. $1,240 E. none of the above