The marginal social benefit of air quality
a. declines as air quality increases
b. rises as air quality increases
c. remains constant as air quality increases
d. first falls then rises as air quality increases
e. is always negative
A
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Human capital represents: a. the equipment that labor uses on-the-job to improve labor productivity
b. the ratio of capital to labor. c. the education, skill, and training embodied in workers. d. the technology developed by humans that is embodied in equipment. e. the social institutions created by people which promote the accumulation of equipment for production.
Which statement is true?
A. One of the functions of money is that it serves as a receipt for gold. B. The most important function of money is that it serves as a medium of exchange. C. Barter requires specialization. D. None of the statements are true.