Examlex
If on-the-job experience causes labor productivity to increase,that is the result of an improvement in human capital.
Present Value
The contemporary value of money or cash flows due in the future, calculated with a designated rate of return.
Received
To have been given, accepted, or acknowledged something that is sent or provided.
Economic Rent
The excess payment made to a factor of production over and above what is needed to keep it in its current use.
Land
In economics, it refers to all natural resources used to produce goods and services, one of the factors of production.
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