Author Question: A person's stock of skills to produce economic value is referred to as: A) fixed capital. B) ... (Read 45 times)

skymedlock · **on:** Jun 29, 2018

A person's stock of skills to produce economic value is referred to as:

A) fixed capital.
B) human capital.
C) personal wealth.
D) personal capital.

Question 2

If households were to switch production away from an equal division of chores

(e.g., doing dishes, mowing the lawn, etc.) to a system based on specialization and trade, the efficiency of household production would probably ________ and leisure time would probably ________.
A) decrease; decrease
B) decrease; increase
C) increase; increase
D) increase; decrease