Human Capital Is the

question 44

Multiple Choice

Human capital is the

• A)knowledge and skills that workers acquire through education,training,and experience.
• B)stock of equipment and structures that is used to produce goods and services.
• C)total number of hours worked in an economy.
• D)same thing as technological knowledge.

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Definitions:

Tariff

A levy placed by a government on imports to manage trade amounts and safeguard local sectors.

Brazilian Ethanol

Ethanol fuel produced in Brazil, primarily from sugarcane, used as a biofuel alternative to gasoline.

Consumer Surplus

The difference between the maximum price consumers are willing to pay for a product and the actual price they pay, reflecting consumer gain.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service versus what they actually receive.