To measure the amount of human capital available in a country, it would be best to determine _____.
(A) The literacy rate of that country.
(B) The trading partners of that country.
(C) If the nation is rich in natural resources.
(D) The comparative advantage of the most profitable exported goods.
Ans: (A) The literacy rate of that country.
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When the equilibrium price level adjusts to an increase in autonomous investment spending, the impact of the multiplier effect resulting from that spending increase
A) will increase nominal GDP by an amount smaller than the multiplier effect would indicate. B) is only felt when there are changes in consumption. C) will increase real GDP by an amount smaller than the multiplier effect would indicate. D) will have no impact on the real GDP.
If a central bank wishes to lower the foreign-exchange value of its currency, it will
A) buy domestic currency and sell foreign assets. B) sell domestic currency and buy foreign assets. C) attempt to raise domestic interest rates. D) attempt to lower the domestic price level relative to foreign price levels.