Asked by Carissa Galvan on May 25, 2024
Verified
The country of Yipi can raise its productivity by investing more in:
A) both human and physical capital.
B) human capital only.
C) physical capital only.
D) stable foreign economies.
E) stocks and bonds rather than physical assets.
Productivity
The efficiency with which input resources are converted into outputs, often measured as output per hour worked.
Human Capital
The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.
Physical Capital
Tangible assets such as buildings, machinery, and equipment used in the production of goods and services.
- Comprehend the necessity of allocating resources to both human and physical capital to enhance economic progress.
Verified Answer
Learning Objectives
- Comprehend the necessity of allocating resources to both human and physical capital to enhance economic progress.
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