Investment in human capital
A) is quite different from and has a much lower return than investment in physical capital.
B) is just like investment in physical capital and has a return similar to that earned from other investments.
C) is just like investment in physical capital but has a much greater return than do other investments.
D) is not comparable to other investments in any way since human capital is embodied in the person.
B
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Indicate whether the statement is true or false
In Spain, people are considered organ donors unless they explicitly indicate they do not want to be. In the United States, people are only considered organ donors if they explicitly indicate they wish to be. Behavioral economics would suggest that
A) everything else equal, the opt-in system of Spain would generate more organ donors. as a percentage of the adult population. B) everything else equal, the opt-in system of the United States would generate more organ donors as a percentage of the adult population. C) everything else equal, the opt-out system of Spain would generate more organ donors. as a percentage of the adult population. D) everything else equal, the opt-out system of the United States would generate more organ donors as a percentage of the adult population.
For firms that sell one product in a perfectly competitive market, average revenue will:
A. increase if marginal revenue is greater than it. B. decrease if marginal revenue is greater than it. C. always be the same as marginal revenue. D. always be greater than average total cost.
Fiscal policy may not work as policymakers intend it to work because of
A) crowding out. B) lags. C) the position of the physical production possibilities frontier. D) a and b E) a, b, and c