The knowledge and skills acquired by a worker through education and experience is a description of which factor of production?
A. physical capital
B. human capital
C. labor
D. entrepreneurship
Answer: B
You might also like to view...
In the prisoners' dilemma game, when each player takes the best possible action given the action of the other player, ________
A) a competitive equilibrium is reached B) one player denies and one player confesses C) both players deny D) a Nash equilibrium is reached
What is the difference between a supply schedule and a supply curve?
What will be an ideal response?
If the Fed conducts open market sales, the equilibrium value of money decreases and the equilibrium price level increases
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT required for paper dollars to work as a medium of exchange?
a. An established and regulated system of fiat money b. Intrinsic value backed by gold c. Government prosecution of counterfeiters d. Acceptance as part of social convention