Human capital can be increased through
A) investment in new technology.
B) decreases in population.
C) investment in new machinery.
D) education, on-the-job training, and work experience.
E) increasing the nation's production of consumption goods.
D
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Suppose the economy currently has some underutilized resources. The Fed engages in expansionary monetary policy. The impact of expansionary monetary policy will be to
A) increase aggregate demand, increase prices and increase real GDP. B) increase short-run aggregate supply, decrease in prices and decrease in real GDP. C) increase short-run aggregate supply, decrease prices and increase real GDP. D) increase aggregate demand, increase prices and decrease real GDP.
Over the past four decades
A) the growth rate of real GDP per person in the United States has been increasing. B) U.S. real GDP per person has fallen below that of the other rich industrial countries. C) U.S. real GDP per person has increased. D) Both answers A and C are correct.