Human capital is the
A) machinery used by humans to produce GDP.
B) technology used by humans to produce GDP.
C) skill and knowledge accumulated by humans.
D) plant and equipment produced by humans and not by machines.
C
You might also like to view...
The above figure shows the payoff to two firms in an industry deciding to make an investment in worker safety. The dominant strategy for each firm
A) is to do the opposite of the other firm. B) is to make the investment. C) is to not make the investment. D) does not exist.
Which of the following explains the shape of the short-run aggregate supply curve?
a. The inverse relationship between the quantity supplied and the cost per b. The direct relationship between the quantity supplied and the cost per unit c. The direct relationship between the quantity supplied and the price level d. The inverse relationship between quantity supplied and GDP e. The inverse relationship between quantity supplied and the profit per unit
The short-run aggregate supply curve is drawn with: a. the price level on the vertical axis and real GDP on the horizontal axis
b. the price level on the vertical axis and nominal GDP on the horizontal axis. c. nominal GDP on the vertical axis and real GDP on the horizontal axis. d. real GDP on the horizontal axis and the rate of unemployment on the vertical axis.
Last year a country had $700 billion of saving and $900 of investment. This year it had $1000 billion of saving and $800 billion of investment. By how much did net capital outflow change? By how much did net exports change? How is it possible for a country to have saving that is greater than investment?