The accumulated knowledge, skills, and expertise that the average worker in an economy possesses is called:
a. human capital.
b. knowledge capital.
c. technical capital.
d. working capital.
a. human capital.
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In the recent Global Economic Crisis, the negative wealth effect from a 50 percent decline in the stock market caused
A) LM curve to shift to the right. B) LM curve to shift to the left. C) IS curve to shift to the left. D) LM curve to shift to the right.
A period in which the price level is rising is experiencing
a. inflation. b. reflation. c. deflation. d. deconstruction.
The main revenue sources for state and local governments are corporate income taxes
a. True b. False Indicate whether the statement is true or false
In 2011, approximately what percentage of the U.S. federal government's receipts came from individual income taxes?
a. 9% b. 15% c. 43% d. 67%