People's knowledge is a type of capital, called human capital.
Answer the following statement true (T) or false (F)
True
Human capital is knowledge.
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An option buyer
A) has a greater insurance benefit than the purchaser of a futures contract. B) bears the risk of unfavorable price movements. C) is purchasing a naked option if he or she does not also own the underlying asset. D) generally will incur a lower cost than will the purchaser of a futures contract.
Health care that actually harms the patient, such as an adverse reaction to a prescription drug is called
a. morbidity-related response. b. defensive medicine. c. adverse selection. d. iatrogenic disease. e. moral hazard.
One "design principle" that makes informal, community-based solutions to public goods and common resource problems more effective is:
A. the government setting clear rules for use. B. individual pledges to self-monitor their actions. C. clear distinctions between who is and is not allowed to access the resource. D. All of these are important to the effectiveness of community-based solutions.
How does total revenue change as one moves downward and to the right along a linear demand curve?
a. It always increases. b. It always decreases. c. It first increases, then decreases. d. It is unaffected by a movement along the demand curve.