Education and training are examples of investment in human capital.
Answer the following statement true (T) or false (F)
True
Human capital leads to greater productivity as workers are able to use more productive physical capital.
Economics
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The above figure shows Bobby's indifference map for soda and juice. B1 indicates his original budget line. B2 indicates his budget line resulting from a decrease in the price of soda. What change in quantity best represents his income effect?
A) 3 B) 10 C) 15 D) 7
Economics
One difference between moral hazard and adverse selection is
a. Adverse selection has to do with unobservable characteristics of individuals b. Moral hazard has to do with unobservable actions of individuals c. Adverse selection is individuals change their behaviors because of a contract d. Only A&B
Economics