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Chapter 11 - Human capital form of intangible capital...

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Capital market : households supply savings to firms that demand funds Capital goods: goods produced by the capital system. Used to produce other goods and services in the future Physical or Tangible capital: material things use din the inputs of goods and services (nonresidential structure, durable equipment) Social capital (infrastructure): provides services to the public (roads, bridges) Intangible capital: nonmaterial things that contribute to future goods and services
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Unformatted text preview: Human capital: form of intangible capital, includes skill and knowledge of workers Expected rate of return: the annual rate of return that a firm expects to obtain through a capital investment Present value: price/(1+rate)^n ,n is the number of years ; PV=( R) / (1+r)^t Chapter 11 Wednesday, October 19, 2011 10:06 PM Econ 2106 Page 1...
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