Explain the differences between "human capital," "financial capital," and "capital."
What will be an ideal response?
Human capital is the knowledge and skills people obtain from education, on-the-job training, and work experience. Financial capital is money, stocks, and bonds. Capital is tools, instruments, machines, buildings, and anything that had to be produced prior to production of the desired goods and services.
Economics
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The crowding-out effect implies that restrictive fiscal policy will
a. increase aggregate demand and employment. b. lead to a significant increase in the natural rate of unemployment. c. be highly effective against inflation. d. reduce real interest rates.
Economics
The largest merchandise exporting country is ______________.
Fill in the blank(s) with the appropriate word(s).
Economics