Which of the Following Is Not an Example of Human

question 167

Multiple Choice

Which of the following is not an example of human capital?

• A)Physical strength
• B)An eye for decorating and color
• C)A PhD in chemistry
• D)An automotive manual

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Definitions:

Expected Inflation

The rate at which consumers, businesses, and investors expect prices to rise over a future period.

Long-run Phillips Curve

The long-run Phillips Curve is an economic concept that illustrates the relationship between inflation and unemployment, suggesting that in the long run there is no trade-off between these two factors.

Potential Output

The upper limit of real GDP sustainable over an extended period without inflating the inflation rate.

Phillips Curve

A graphical representation showing an inverse relationship between the rate of unemployment and the rate of inflation in an economy.