Development of New Computer Software That Increases Productivity Is an Example

question 156

Multiple Choice

Development of new computer software that increases productivity is an example of:

• A) human capital.
• B) physical capital.
• C) production technology.
• D) technical knowledge.

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Definitions:

Production Possibilities Frontier

A picture that demonstrates all potential maximum outputs for two different goods, grounded on inputs including resources and more.

Descriptive Statement

A statement that describes how the world is, based on observable facts without inferring causation or prescribing actions.

Rent Control

Government policies or regulations that limit the rent landlords can charge tenants, aiming to make housing more affordable.

Macroeconomist

An economist who studies broad economic factors affecting the economy as a whole, such as inflation, unemployment, and national income.