Author Question: Which of the following refers to human capital? a. Money spent by business to acquire labor b. The ... (Read 100 times)

lidoalex · **on:** Jun 30, 2018

Which of the following refers to human capital?
a. Money spent by business to acquire labor
b. The acquired skill and productivity of workers
c. The plant and equipment used with labor
d. Money spent on purchasing the latest machinery
e. Money that workers save

Question 2

When the cross-price elasticity of demand for two goods is a positive number, one can correctly conclude that:
a. the goods are normal goods.
b. the goods are inferior goods.
c. the goods are substitutes.
d. the goods are complements.
e. total revenue will increase when the price increases.