Physical capital is distinguished from human capital because
A) physical capital refers to trained people.
B) physical capital refers to equipment and machinery, whereas human capital refers to trained people.
C) human capital refers only to day laborers.
D) physical capital refers to trained people, whereas human capital refers to equipment and machinery.
B
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If the exchange rate (dollars per unit of foreign currency) has decreased because of a shift of the supply curve, the demand curve, or both, we say there has been a(n)
a. appreciation of the foreign currency b. depreciation of the foreign currency c. revaluation of the foreign currency d. devaluation of the foreign currency e. fixing of the foreign currency
Which term refers to the share of an activity's marginal cost that is paid for by the persons who carry out the activity?
a. Beneficial cost b. Incidental cost c. Marginal private cost d. Marginal social cost