Human capital represents:
a. the equipment that labor uses on-the-job to improve labor productivity

b. the ratio of capital to labor.
c. the education, skill, and training embodied in workers.
d. the technology developed by humans that is embodied in equipment.
e. the social institutions created by people which promote the accumulation of equipment for production.

c

Economics

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One possible benefit from inflation is:

A. inflation causes restaurants to update their menus more often. B. inflation reduces distortions to relative prices. C. if nominal wages are fixed, inflation decreases real wages. D. if nominal wages are fixed, inflation increases real wages.

Economics

The difference between exports and imports of goods is the

A) balance of trade. B) balance of payments. C) balance of accounts. D) balance of paying.

Economics