Expenditures on human capital
a. reflect an expectation of some future return on the investment.
b. are generally embodied in a specific individual.
c. reflect an investment of resources today to raise productivity in the future.
d. All of the above are correct.
d
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When the government converted the highway from 4 lanes into 6 lanes, they claimed the capacity had increased by 50 percent
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Which of the following accurately describes economic growth and standards of living between 1,000,000 B.C. and 1300 A.D.?
A) No sustained economic growth occurred between 1,000,000 B.C. and 1300 A.D. B) Significant economic growth took place between 1,000,000 B.C. and 1300 A.D. C) Standards of living substantially declined from 1,000,000 B.C. to 1300 A.D. D) Standards of living in 1300 A.D. were substantially better than what they were in 1,000,000 B.C.