Investment in
a. physical capital, unlike investment in human capital, has an opportunity cost.
b. physical capital, like investment in human capital, has an opportunity cost.
c. human capital is particularly attractive because it involves no externalities.
d. human capital has been shown to be relatively unimportant, relative to investment in physical capital, for a country's long-run economic success.
b
You might also like to view...
The figure above shows the marginal social cost curve of generating electricity and the marginal private cost curve. The marginal external cost when 100 billion kilowatt hours are produced is
A) 0¢ per kilowatt. B) 5¢ per kilowatt. C) 10¢ per kilowatt. D) 15¢ per kilowatt. E) 20¢ per kilowatt.
Explicit agreements between businesses to keep prices high:
A. are illegal. B. are not in the public's best interests. C. are called collusion. D. All of these statements are true.
If Harry only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the car, this indicates that
What will be an ideal response?
Expenses that a firm does NOT have to pay out of pocket are
A) wages of employees. B) taxes. C) implicit costs. D) explicit costs.