A key difference between human capital and technology is that ________
A) human capital is excludable
B) human capital is nonrival
C) scarce resources are used in the production of human capital
D) technology is an input in the production of new technology
A
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Explain what entrepreneurship is and why it is considered a factor of production
What will be an ideal response?
Refer to Table 1-3. Using marginal analysis, how many hours should Ivan extend his hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
The financial sector of an economy includes which of the following components?
A) strengthening payment systems and regulatory agencies B) strengthening financial sector institutions C) attracting global capital and domestic savings D) both A and B
Researchers believe that the economy grows at least one percentage point less annually when:
a. the ratio of public debt to GDP exceeds 90 percent for at least five years in a row. b. the ratio of public debt to GDP exceeds 50 percent for at least two years in a row. c. the growth rate of population falls for at least five years in a row d. the rate of inflation is below 4 percent for at least two years in a row. e. the growth rate of real interest rates falls for at least five years in a row.