What is meant by the term "human capital"?
What will be an ideal response?
Human capital refers to the skills people possess. These skills help increase the quality of labor. Human capital can be increased through education, on the job training, and experience. The knowledge and skill gained from these improvements are called human capital.
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The per-worker production function has a ________ slope, indicating that increases in capital per hour worked ________ real GDP
A) positive; decrease B) negative; decrease C) positive; increase D) negative; increase
The federal funds rate is the interest rate paid when
a. the Federal Reserve makes loans to member banks. b. taxpayers pay overdue taxes. c. one bank borrows reserves from another bank. d. banks make loans to the federal government. e. the federal debt is refinanced.