Human capital is
a. an important determinant of wages, but it does not affect the production of goods and services.
b. an important determinant of wages, and it affects the production of goods and services.
c. a specific type of physical capital made by humans rather than machines.
d. very different from physical capital in that physical capital represents an investment, while human capital does not represent an investment.
b
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The relocation of service industry functions to another country is called what?
What will be an ideal response?
Suppose the U.S. economy is producing at the natural rate of output. An appreciation of the U.S. dollar will cause ________ in real GDP in the short run and ________ in inflation in the short run, everything else held constant
(Assume the appreciation causes no effects in the supply side of the economy.) A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease