Which of the following is not considered human capital?
a. the golf clubs a professional golfer uses to play golf
b. the skills a professional golfer has gained by practicing on the driving range
c. the professional golfer's knowledge of how to play a better game learned from talking with other players
d. none of the above would be considered human capital
a
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The major sources of economic growth are
a. gains from trade, entrepreneurial discovery, and investment. b. high taxes, an expansion in the size of government, and restrictions on investments by foreigners. c. rapid expansion in the supply of money, trade restrictions, and government licensing of business activities. d. free and open elections and politicians who are willing to place the general welfare of the populace above their political ambitions.
In terms of the musical chairs analogy in the text, which of the following is a description of structural unemployment?
A. There are too many chairs. B. There are enough chairs, but it takes time to find one. C. There are too few chairs. D. There are enough chairs, but some are not the right size.