Deck 14: International Trade

Question 1

The rate of economic growth is best defined as the

A) percentage increase in real GDP over time.
B) increase in investment as a percentage of GDP over time.
C) percentage increase in consumption expenditures over time.
D) percentage increase in the quality of capital,human,and natural resources which occurs over time.
E) percentage increase in government spending over timE.

Answer 1

percentage increase in real GDP over time.

Question 2

Over the period from 1955 to 2009,which country experienced the highest average annual growth rate of real GDP per person?

A) United States.
B) Japan.
C) South Korea.
D) China.
E) Ghana.

Answer 2

China.

Question 3

If you left $2,500 on deposit with a bank promising to pay you a 6% compound annual rate of interest,then after 50 years your deposit would total

A) $2,650.
B) $10,000.
C) $18,420.
D) $46,050.
E) $250,750.

Answer 3

$46,050.

Question 4

What is one major measure of economic growth?

A) The rise in the price level.
B) The fall in the rate of unemployment.
C) Changes in interest rates.
D) Changes in real GDP.
E) The fall in inflation.

Question 5

Compound interest is

A) the payment of interest on the original deposit.
B) the interest rate adjusted for the rate of inflation.
C) the same as the real interest rate.
D) the real rate of interest compounded by the rate of inflation.
E) the payment of interest on the original deposit and on all accumulated interest.

Question 6

The table below provides data on Canada's real GDP per person,average labour productivity and the share of population employed in 1960 and 2000.Use this information for the following questions.(Assume that between 1960 and 2000 there are 40 years).
Between 1960 and 2000,Canada's GDP per person grew by ___________ percent,and over the same period,average labour productivity grew by ___________ percent and the share of the population employed grew by ___________ percentage points.

A) 148.5;71.7;15.1
B) 248.5;171.7;145.2
C) 155.5;79.7;45.2
D) 155.5;34.7;45.2
E) 148.5;71.7;145.2

Question 7

If real GDP per person was $2,000 in 1900 and grew at a 1% annual rate,what would real GDP per person equal 100 years later?

A) $2,020.
B) $2,200.
C) $5,410.
D) $22,000.
E) $13,780,612.

Question 8

Bank C promises to pay a compound annual interest rate of 6%,while Bank S pays a 10% simple annual interest rate,on deposits.If you deposit $1,000 in each bank,and do not make any withdrawals,after 10 years your deposit in Bank C equals _________,while your deposit in Bank S equals __________.

A) $1,060;$1,100
B) $1,600;$2,000
C) $1,600;$2,594
D) $1,791;$2,000
E) $1,791;$1,100

Question 9

Compared to 1955,by 2009 real GDP per person in Canada was ________ times larger,while real GDP per person in Japan was ___________.

A) 3;smaller
B) 3;3 times larger
C) 3;7 times larger
D) 5;3 times larger
E) 5;7 times larger

Question 10

Government policies that increase the long-term economic growth rate by a small amount result in __________ in average living standards over time.

A) large increases
B) small increases
C) small decreases
D) no change
E) either larger or small increases

Question 11

Small differences in annual growth rates of real GDP generate large differences in real GDP over time because of the

A) importance of average labour productivity.
B) power of compound growth.
C) diminishing returns to capital.
D) increasing returns to scale.
E) limits to economic growth.

Question 12

The average annual growth of real GDP per person from 1955 to 2009 in Canada was approximately

A) 1%.
B) 2%.
C) 5%.
D) 7%.
E) 10%.

Question 13

Bank C promises to pay a compound annual interest rate of 6%,while Bank S pays an 8% simple annual interest rate,on deposits.If you deposit $1,000 in each bank,and do not make any withdrawals,after 10 years your deposit in Bank C equals _________,while your deposit in Bank S equals __________.

A) $1,060;$1,800
B) $1,600;$1,800
C) $1,600;$2,159
D) $1,791;$1,800
E) $1,791;$2,159

Question 14

Real GDP per person in both Alpha and Omega equals $2,000.Over the next 100 years,real GDP per person grows at 1.5% per year in Alpha and at a 2.5% per year in Omega.After 100 years,real GDP person in Alpha is _________ smaller than real GDP per person in Omega.

A) $2,000
B) $7,382
C) $14,763
D) $24,954
E) $57,837

Question 15

Real GDP per person in both Alpha and Omega equals $2,000.Over the next 100 years,real GDP per person grows at 1% per year in Alpha and at a 2% per year in Omega.After 100 years,real GDP person in Alpha is _________ smaller than real GDP per person in Omega.

A) $2,000
B) $4,540
C) $9,080
D) $12,495
E) $15,784

Question 16

The best measure of economic growth,adjusted for the population of a nation,is the increase in

A) aggregate demand over time.
B) real GDP per worker over time.
C) real GDP per capita over time.
D) real GDP per dollar of capital stock over time.
E) aggregate supply over timE.

Question 17

If real GDP per person was $1,000 in 1900 and grew at a 1% annual rate,what would real GDP per person equal 100 years later?

A) $1,010.
B) $1,100.
C) $2,705.
D) $11,000.
E) $13,780,612.

Question 18

If you left $2,500 on deposit with a bank promising to pay you a 5% compound annual rate of interest,then after 50 years your deposit would total

A) $2,625.
B) $8,750.
C) $11,467.
D) $28,668.
E) $328,750.

Question 19

The payment of interest not only on the original deposit,but also on all previously accumulated interest,is called

A) the real interest rate.
B) the nominal interest rate.
C) simple interest.
D) conflict of interest.
E) compound interest.

Question 20

A rough indicator of a country's living standards and stage of economic development is

A) the unemployment rate.
B) the inflation rate.
C) real GDP.
D) real GDP per person.
E) average labour productivity.

Question 21

Real GDP per person in Canada was $7,377 in 1950.Over the next 48 years it grew at a compound annual rate of 2.0%.If,instead,real GDP per person had grown at an average compound annual rate 2.5%,then real GDP per capita in Canada in 1998 would have been approximately __________ larger.

A) $3,000
B) $5,050
C) $7,400
D) $19,100
E) $24,100

Question 22

Compound interest differs from simple interest because compound interest is interest paid on

A) the original deposit only,whereas simple interest is interest paid only on the original deposit but not on all previously accumulated interest.
B) all previously accumulated interest,whereas simple interest is interest paid not only on the original deposit but on all previously accumulated interest.
C) the original deposit only,whereas simple interest is interest paid only on all previously accumulated interest.
D) the original deposit and on all previously accumulated interest,whereas simple interest is interest paid on all previously accumulated interest.
E) the original deposit and on all previously accumulated interest,whereas simple interest is interest paid on the original deposit only.

Question 23

Real GDP per person in Richland is $20,000,while real GDP per person in Poorland is $10,000.However,Richland's real GDP per person is growing at 1% per year and Poorland's is growing at 3% per year.After 50 years,real GDP per person in Richland minus real GDP in Poorland is

A) still $10,000.
B) greater than $10,000.
C) positive,but less than $10,000.
D) zero.
E) negativE.

Question 24

If,at the age of 21,you put $1,000 in a bank account promising to pay 7% annual compound interest and you make no withdrawals,how much will be in the account 45 years later when you retire at age 66?

A) $3,752.
B) $13,765.
C) $21,002.
D) $46,794.
E) $86,962.

Question 25

The population of Alpha totals one million people,of whom 40% are employed.Average output per worker in Alpha is $20,000.Real GDP per person in Alpha totals

A) $8,000.
B) $12,000.
C) $20,000.
D) $28,000.
E) $8 billion.

Question 26

Real GDP per person in Northland is $30,000,while real GDP in Southland is $10,000.However,Northland's real GDP per person is growing at 1% per year and Southland's is growing at 3% per year.If these growth rates persist indefinitely,then

A) Northland's real GDP per person will decline until it equals Southland's.
B) Northland's real GDP per person will always be greater than Southland's.
C) Southland's real GDP per person will always be less than Northland's.
D) Southland's real GDP per person will eventually be greater than Northland's.
E) Southland's real GDP per person will catch up to Northland's,but never exceed Northland's.

Question 27

If on the day you were born,your parents deposited $1,000 into a savings account that would earn an annual compound interest rate of 5%,what would the value of the account be on your 20^th birthday?

A) $1100.00.
B) $2653.30.
C) $3,325,256.73.
D) $1500.00.
E) $1050.00.

Question 28

Real GDP per person in Richland is $20,000,while real GDP per person in Poorland is $10,000.However,Richland's real GDP per person is growing at 1% per year and Poorland's is growing at 2% per year.After 50 years,real GDP per person in Richland minus real GDP in Poorland is

A) still $10,000.
B) greater than $10,000.
C) positive,but less than $10,000
D) zero.
E) negativE.

Question 29

Average labour productivity multiplied by the proportion of the population employed equals

A) real GDP.
B) real GDP per person.
C) real GDP per worker.
D) output per worker.
E) the labour force participation ratE.

Question 30

If an economy's real GDP doubles in fourteen years,then the average annual rate of growth in real GDP is about

A) 3%.
B) 4%.
C) 5%.
D) 6%.
E) 7%.

Question 31

If,at the age of 21,you put $1,000 in a bank account promising to pay 6% annual compound interest and you make no withdrawals,how much will be in the account 45 years later when you retire at age 66?

A) $3,752.
B) $13,765.
C) $24,871.
D) $46,794.
E) $66,455.

Question 32

In symbolic terms,where Y equals real GDP,POP equals total population,and N equals the number of employed workers,Y/POP must equal

A) (Y/N)x (N/POP).
B) (N/Y)x (POP/N).
C) (Y/POP)x (N/POP).
D) (N/Y)x (N/POP).
E) (Y/N)x (POP/N).

Question 33

The key variable in determining changes in a country's standard of living is the

A) interest rate.
B) inflation rate.
C) unemployment rate.
D) population growth rate.
E) long-run rate of economic growth.

Question 34

If a nation's real GDP is growing by 3% per year,its real domestic output will double in approximately

A) 20 years.
B) 24 years.
C) 29 years.
D) 42 years.
E) 49 years.

Question 35

Real GDP per person equals average labour productivity

A) multiplied by one minus the unemployment rate.
B) minus the share of population employed.
C) multiplied by the labour force participation rate.
D) divided by the labour force participation rate.
E) multiplied by the share of population employed.

Question 36

Real GDP per person in Westland is $30,000,while real GDP in Eastland is $10,000.However,Westland's real GDP per person is growing at 1.5% per year and Eastland's is growing at 3% per year.If these growth rates persist indefinitely,then

A) Westland's real GDP per person will decline until it equals Eastland's.
B) Westland's real GDP per person will always be greater than Eastland's.
C) Eastland's real GDP per person will always be less than Westland's.
D) Eastland's real GDP per person will eventually be greater than Westland's.
E) Eastland's real GDP per person will catch up to Westland's,but never exceed Westland's.

Question 37

Real GDP per person in the United States was $9864 in 1950.Over the next 48 years,it grew at a compound annual rate of 2.0%.If,instead,real GDP per person had grown at an average compound annual rate 2.5%,then real GDP per capita in the United States in 1998 would have been approximately __________ larger.

A) $3,420
B) $6,750
C) $9,900
D) $25,500
E) $32,270

Question 38

Suppose Botswana doubles its income in 8 years,while South Africa doubles its income in 12 years.According to the Rule of 72,the growth rate in Botswana

A) is 3 percentage points higher than the growth rate in South Africa.
B) is 4 percentage points higher than the growth rate in South Africa.
C) is 8 percentage points higher than the growth rate in South Africa.
D) is 12 percentage points higher than the growth rate in South Africa.
E) is 16 percentage points higher than the growth rate in South Africa.

Question 39

Small differences in growth rates of real GDP per person,over the long run,make ________ differences in the average standard of living.

A) almost no
B) unpredictable
C) very large
D) very minor
E) fluctuating

Question 40

Growth of real GDP per person is totally determined by the growth of average

A) labour productivity and the proportion of the population employed.
B) labour productivity and the proportion of the population in the labour force.
C) labour force participation and the share of income going to capital.
D) labour force participation and the share of the population employed.
E) number of employed workers and population.

Question 41

The table below provides data on Canada's real GDP per person,average labour productivity,and share of population employed in 1960 and 2000.Use this information for the following questions.(Assume that between 1960 and 2000 there are 40 years).

Canada's real GDP per person in 2000,which shows the quantity of goods and services each person can consume in 2000,depends on the quantity of goods and services each worker can ___________ in 2000,and the number of people (as a proportion of the total population)__________ in 2000.

A) produce;working
B) produce;not working
C) produce;not in the labour force
D) produce;in the labour force
E) consume;working

Question 42

Real GDP was $4,719 billion in Year 1 and $4,848 billion in Year 2.In contrast,real GDP per capita in Year 1 was $19,261,but in Year 2 it was only $19,162.How could one measure have increased while the other measure decreased?

A) Real GDP indicates the level of industrial production and provides a measure of the economic strength of the nation;it is the only valid measure of economic growth.
B) Inflation occurred during this period;therefore the two measures are not comparable.
C) The population increased during this time period,so the real GDP per capita data reflect this change.
D) Real GDP per capita measures changes in labour productivity that are not captured by a simple measure like real GDP.
E) The population decreased during this time period,so the real GDP per capita data reflect this changE.

Question 43

The growth of real GDP per person in Canada between 1961 and 2010 was the result of

A) growth in average labour productivity only.
B) growth in the share of population employed only.
C) growth in both average labour productivity and the share of population employed.
D) neither the growth in average labour productivity nor the share of population employed.
E) either the growth in average labour productivity or the share of population employed,but not both.

Question 44

The gains in Canada's real GDP per person between 1960 and 2000 associated with increases in the share of the population with paid jobs must be considered temporary because it was the result of an unusual influx of women and young people (baby boomers)into the labour market.If women's participation rate has nearly peaked,as the baby boomers begin and continue to retire over the next two to three decades,the share of people in paid jobs will tend to ___________.This means that the key permanent source for improving Canada's living standards will most likely be growth in _________________.

A) decrease;average labour productivity
B) decrease;average capital productivity
C) decrease;average land productivity
D) decrease;average total productivity
E) decrease;average machine productivity

Question 45

In the long run,increases in average labour productivity are primarily responsible for increases in

A) living standards.
B) female labour force participation.
C) male labour force participation.
D) the proportion of the population retiring.
E) the proportion of the population employed.

Question 46

Holding all else constant,if average labour productivity decreases,real GDP per person

A) increases.
B) decreases.
C) remains constant.
D) fluctuates.
E) may increase or decreasE.

Question 47

One factor that contributed to the growth in the share of the population employed in Canada between 1961 and 2010 was increased

A) labour union participation.
B) female labour force participation.
C) male labour force participation.
D) emigration.
E) minimum wages.

Question 48

Holding all else constant,if average labour productivity increases,real GDP per person

A) increases.
B) decreases.
C) remains constant.
D) fluctuates.
E) may increase or decreasE.

Question 49

The population of Omega totals one million people,of whom 30% are employed.Average output per worker in Omega is $30,000.Real GDP per person in Omega totals

A) $9,000.
B) $21,000.
C) $30,000.
D) $39,000.
E) $9 billion.

Question 50

In the long run,increases in output per person arise primarily from

A) increases in female labour force participation.
B) increases in male labour force participation.
C) an increasing proportion of the population retiring.
D) a decreasing proportion of the population retiring.
E) increases in average labour productivity.

Question 51

Holding all else constant,if the share of the population employed increases,real GDP per person

A) increases.
B) decreases.
C) remains constant.
D) fluctuates.
E) may increase or decreasE.

Question 52

Growth in the share of the population employed in Canada is likely to decline in the future because

A) increasing female labour force participation is predicted.
B) increasing male labour force participation is predicted.
C) population growth is expected to increase.
D) an increasing proportion of those currently employed will be retiring.
E) a decreasing proportion of those currently employed will be retiring.

Question 53

Assume that an economy has 2,000 workers,each working 4,000 hours per year.If the average real output per worker-hour is $10,then total output or real GDP will be

A) $20 million.
B) $40 million.
C) $80 million.
D) $100 million.
E) $120 million.

Question 54

In Macroland,500,000 of the 1 million people in the country are employed.Average labour productivity in Macroland is $20,000 per worker.Real GDP per person in Macroland totals

A) $1,000.
B) $10,000.
C) $15,000.
D) $20,000.
E) $30,000.

Question 55

Holding all else constant,if the share of the population employed decreases,real GDP per person

A) increases.
B) decreases.
C) remains constant.
D) fluctuates.
E) may increase or decreasE.

Question 56

Total real output can be determined by

A) multiplying the input of labour (measured in worker-hours)by labour productivity (measured by real output per worker per hour).
B) multiplying the output of labour (measured in dollars)by labour productivity (measured by real output per worker per hour).
C) dividing the output of labour (measured in dollars)by labour productivity (measured by real output per worker per hour).
D) dividing the input of labour (measured in worker-hours)by labour productivity (measured by real output per worker per hour).
E) adding the input of labour (measured in worker-hours)to labour productivity (measured by real output per worker per hour).

Question 57

The information provided in the table above suggests that

A) only increases in average labour productivity have contributed significantly to today's living standards of Canadians.
B) increases in average labour productivity have contributed little to today's living standards of Canadians.
C) only increases in the share of population with paid jobs have contributed significantly to today's living standards of Canadians.
D) increases in the share of population with paid jobs have contributed little to today's living standards of Canadians.
E) both increases in average labour productivity and the share of population with paid jobs have contributed significantly to today's living standards of Canadians.

Question 58

Increasing average labour productivity is important to the economy because

A) without it,real GDP per person cannot increase.
B) without it,real GDP per person must decrease.
C) it is a key to improving living standards in the long run.
D) the fraction of the total population that is employed is constant over time and,thus,real GDP per person is solely dependent upon average labour productivity.
E) it implies more resources are being employed to produce less output.

Question 59

In Econland,500,000 of the 2 million people in the country are employed.Average labour productivity in Econland is $15,000 per worker.Real GDP per person in Econland totals

A) $1,250.
B) $3,750.
C) $11,250.
D) $15,000.
E) $18,750.

Question 60

The table below provides data on Canada's real GDP per person,average labour productivity,and share of population employed in 1960 and 2000.Use this information for the following questions.(Assume that between 1960 and 2000 there are 40 years).

Canada's real GDP per person in 1960,which shows the quantity of goods and services each person can consume in 1960,depends on the quantity of goods and services each worker can __________ in 1960,and the number of people (as a proportion of the total population)__________ in 1960.

A) produce;working
B) produce;not working
C) produce;not in the labour force
D) produce;in the labour force
E) consume;working

Question 61

Increasing the capital available to the workforce,holding other factors constant,tends to __________ total output at a(n)__________ rate.

A) increase;increasing
B) increase;decreasing
C) increase;constant
D) decrease;increasing
E) decrease;decreasing

Question 62

Workers should invest in additional human capital as long as the

A) marginal benefit is at least as great as the marginal cost.
B) marginal cost is at least as great as the marginal benefit.
C) opportunity cost exceeds the marginal benefit.
D) marginal benefit exceeds the opportunity cost.
E) opportunity cost is zero.

Question 63

Fred and Barney fill egg cartons with eggs.Fred just started the job and can only fill 20 cartons per hour.Barney has significant on-the-job experience that allows him to fill 40 cartons per hour.Both Fred and Barney work 40 hours per week.Fred's average weekly productivity is _________ cartons;Barney's average weekly productivity is ________ cartons;and,as a team,their average weekly productivity is _________ cartons.

A) 20;40;60
B) 20;40;30
C) 20;40;4,800
D) 800;1,600;1,200
E) 800;1,600;2,550

Question 64

Assume that the production possibilities curves in the diagram above are those of a closed economy.If the economy can currently produce those combinations of capital and consumption goods shown on production possibilities curve A,then it is _________ likely that the economy will be able to achieve those combinations of capital and consumption goods on the production possibilities curve B if the economy is currently producing that combination represented by point ________.

A) more;W
B) more;Z
C) not;Z
D) less;Z
E) not;W

Question 65

Countries without abundant natural resources within their borders ___________ economic growth.

A) cannot achieve any
B) can achieve only moderate rates of
C) can achieve substantial rates of
D) cannot achieve substantial rates of
E) cannot achieve moderate rates of

Question 66

Long-lived goods used to produce other goods and services are called

A) financial capital.
B) human capital.
C) physical capital.
D) intermediate goods.
E) inventories.

Question 67

Physical capital is the

A) factories and machinery used to produce other goods and service.
B) talents,training,and education of workers.
C) financial resources available for investment.
D) physical labour of workers.
E) total savings of an economy used to finance the purchase of machines.

Question 68

Increasing the capital available to the workforce,holding other factors constant,tends to _________ total output and to _________ average labour productivity.

A) increase;decrease
B) increase;increase
C) increase;keep unchanged
D) decrease;increase
E) decrease;decrease

Question 69

The principle that if the amount of labour and other inputs is held constant,then the greater the amount of capital in use,the less an additional unit of capital adds to production is called

A) increasing average capital productivity.
B) diminishing returns to capital.
C) increasing returns to capital.
D) decreasing output per unit of capital.
E) declining capital to labour ratios.

Question 70

Assume that the production possibilities curves in the diagram above are those of a closed economy.If the economy can currently produce those combinations of capital and consumption goods shown on production possibilities curve A,and if the quantity of capital goods produced at point W is more than is needed to replace worn out capital goods,then ___________ that the economy will be able to produce those combinations of capital and consumption goods shown on production possibilities curve B ____________.

A) it is possible;in the future
B) it is not possible;in the future
C) was not possible;in the past
D) was not possible;now
E) it is possible;now

Question 71

Assume that an economy has 50 workers,each of whom works 3,000 hours per year.If labour productivity is $8,total output for this economy will be

A) $150,000.
B) $750,000.
C) $1,000,000.
D) $1,200,000.
E) $1,500,000.

Question 72

The principle of diminishing returns to capital states that,if the amount of labour and other inputs employed are held constant,then,as more and more units of capital are used,eventually,

A) less is produced.
B) more production is wasted.
C) less production is wasted.
D) the amount added to production for each additional unit of capital will be larger than the amount added for the previous unit of capital.
E) the amount added to production for each additional unit of capital will be smaller than the amount added for the previous unit of capital.

Question 73

Fred and Barney fill egg cartons with eggs.Fred just started the job and can only fill 25 cartons per hour.Barney has significant on-the-job experience that allows him to fill 50 cartons per hour.Both Fred and Barney work 50 hours per week.Fred's average weekly productivity is _________ cartons;Barney's average weekly productivity is ________ cartons;and,as a team,their average weekly productivity is _________ cartons.

A) 25;50;75
B) 25;50;37.5
C) 25;50;7500
D) 1,250;2,500;1,875
E) 1,250;2,500;3,750

Question 74

The talents,training,and education of workers are called

A) human capital.
B) physical capital.
C) average labour productivity.
D) labour demand.
E) labour supply.

Question 75

Mike and Tom debone chicken breasts for Ted's Chicken Co.Mike is new and can only debone 60 chicken breasts per hour by hand,while Tom's experience allows him to debone 120 chicken breasts per hour by hand.Ted buys one new machine that can debone 100 chicken breasts per hour.Both Mike and Tom work the same 40 hours per week,but one of them is assigned to operate the machine instead of deboning the chicken breasts by hand.To obtain maximum average hourly productivity,________ is assigned to use the machine and their combined average hourly productivity,as a team,is ________ chicken breasts.

A) Mike;80
B) Mike;110
C) Mike;120
D) Tom;80
E) Tom;100

Question 76

Mike and Tom debone chicken breasts for Ted's Chicken Co.Mike is new and can only debone 60 chicken breasts per hour,while Tom's experience allows him to debone 120 chicken breasts per hour.Both Mike and Tom work 40 hours per week.Their average hourly productivity as a team is ________ chicken breasts.

A) 60
B) 75
C) 90
D) 100
E) 180

Question 77

If total output in an economy is $600,000 and the total number of worker-hours in the economy is 40,000,labour productivity is

A) $7.
B) $9.
C) $13.
D) $15.
E) $18.

Question 78

Mike and Tom debone chicken breasts for Ted's Chicken Co.Mike is new and can only debone 30 chicken breasts per hour,while Tom's experience allows him to debone 60 chicken breasts per hour.Both Mike and Tom work 40 hours per week.Their average hourly productivity,as a team,is ________ chicken breasts.

A) 30
B) 45
C) 60
D) 90
E) 180

Question 79

Mike and Tom debone chicken breasts for Ted's Chicken Co.Mike is new and can only debone 30 chicken breasts per hour by hand,while Tom's experience allows him to debone 60 chicken breasts per hour by hand.Ted buys one new machine that can debone 100 chicken breasts per hour.Both Mike and Tom work the same 40 hours per week,but one of them is assigned to operate the machine instead of deboning the chicken breasts by hand.To obtain maximum average hourly productivity,________ is assigned to use the machine and their combined average hourly productivity,as a team,is ________ chicken breasts

A) Mike;65
B) Mike;80
C) Mike;100
D) Tom;65
E) Tom;100

Question 80

Human capital is

A) factories and machinery used by humans in the production process.
B) the talents,training,and education of workers.
C) financial resources available to humans for investment.
D) factories and machinery made by workers.
E) the total savings of all workers currently employed.