Human capital is defined as the
A. Dollar value of all the stocks and bonds an individual owns.
B. Knowledge and skills workers possess.
C. Amount of machinery, factories, and buildings an individual owns.
D. None of the choices are correct.
Answer: B
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The different stages of production of any commodity can be said to possess high volumetric interdependence if the output produced in any one of the stages affects the output produced during the subsequent stages
Indicate whether the statement is true or false
An extremely high rate of inflation is called ________.
A. disinflation B. super inflation C. hyperinflation D. deflation
Which of the following is NOT a characteristic of pure monopoly?
A) many sellers B) considerable price setting ability C) restricted ability to enter market D) long-run economic profits are possible
Refer to Figure 3-2. An increase in price of inputs would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.