In economic terminology, the accumulated training and education that workers receive to increase their productivity is referred to as

A) entrepreneurship.
B) human capital.
C) labor.
D) physical capital.

Answer: B

Economics

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How long is it worthwhile to continue searching for a $20 bill that you lost if you value your time at $5 an hour?

A) About 2 hours if there is a fifty percent chance of finding it. B) About 4 hours, regardless of the probability of finding it. C) Only so long as you expect to find it within the next four hours, which could mean far more than four hours of searching. D) You cannot make a rational decision without first knowing whether you will find it. E) You should not search at all because the lost bill is a sunk cost.

Economics

Stores such as Costco and Sam's Club require an annual membership before you can shop there. This is a form of

A) two-part pricing. B) price gouging. C) a tie-in sale. D) anti-competitive behavior.

Economics