Why is knowledge considered a type of capital?
What will be an ideal response?
Knowledge is human capital. Knowledge is considered capital because it yields valuable services to a firm over time in the same way that other types of capital (such as machinery) do.
Economics
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Which of the following is NOT a part of the Federal Reserve System?
A) the Federal Deposit Insurance Corporation B) the Board of Governors C) the Twelve District Federal Reserve banks D) the Federal Open Market Committee
Economics
In an open economy, the government purchases multiplier will be larger the
A) larger the marginal propensity to consume. B) smaller the marginal propensity to import. C) smaller the marginal income tax rate. D) All of the above are correct.
Economics