Human capital
a. can be thought of, metaphorically, as the quality of society's textbooks, whereas technological knowledge can be thought of as the time that the population has devoted to reading textbooks.
b. is more tangible than physical capital.
c. is an input in the production of goods and services.
d. is the same as the quantity of labor.
c
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Refer to Figure 3-1. A decrease in the expected future price of the product would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
In the short-run, a temporary increase in the money supply
A) shifts the AA curve to the right, increases output and depreciates the currency. B) shifts the AA curve to the left, increases output and depreciates the currency. C) shifts the AA curve to the left, decreases output and depreciates the currency. D) shifts the AA curve to the left, increases output and appreciates the currency. E) shifts the AA curve to the right, increases output and appreciates the currency.