A physician's knowledge and skills are referred to by economists as
a. human capital
b. labor
c. physical capital
d. entrepreneurship
e. intellectual raw materials
A
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An individual is structurally unemployed if
A) there is a recession and the individual is laid off. B) the individual wants to work just during certain months of the year. C) the individual quits a job in order to search for a better one. D) the individual lacks marketable job skills because technology has changed.
Irving Fisher took the view that the institutional features of the economy which affect velocity change ________ over time so that velocity will be fairly ________ in the short run
A) rapidly; erratic B) rapidly; stable C) slowly; stable D) slowly; erratic
Make a case for income inequality
Suppose Julianna reads that Algeria's total spending on goods and services was $370 B in 2013. She also knows that ____
a. Algeria's net profits were $370 B b. Algeria's export sales were $370 B c. Algeria's real GDP was $370 B d. Algeria's value of consumer goods produced was $370 B e. all