UP Economics The Smartphone Market & Human Capital Questions

1. what is the difference between human capital and technological knowledge? 

Sobieraj, J., & Metelski, D. (2021). Economic Determinants of Total Factor Productivity Growth: The Bayesian Modelling Averaging Approach. Entrepreneurial Business and Economics Review, 9(4), 147–171.

2. what is the time horizon? For a good like gas, a price hike may not affect demand in the short run however consumers soon find ways to mitigate long-term expensive fuel prices – for example, they buy fuel-efficient cars (Mankiw, 2015). Class, can you think of other examples? 

Mankiw, N. G. (2015). Principles of Macroeconomics (7th ed.). Stamford, CT: Cengage Learning

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