Janet is a farmer. Which of the following are included in her human capital?
a. her tractor and what she's learned from experience
b. her tractor but not what she's learned from experience
c. what she's learned from experience but not her tractor
d. neither her tractor nor what she's learned from experience
c
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Which of the following is likely hardest to resell?
A) An Apple iPod B) A discount airline ticket you bought with your frequent flyer miles C) A used car D) The free spa treatment you won at a raffle
Which of the following is the best example of an action that imposes an external cost?
a. Wear and tear on your car as the result of frequent use. b. Deterioration in the average quality of a house you own as the result of poor maintenance. c. Water pollution from an upstream factory that increases the cost of providing clean water to downstream residents. d. A rose garden on your property from which your neighbor gets much enjoyment.