Human capital refers to: a. the net present value of the future competencies of the workforce. b. knowledge and skills of a firm's entire workforce. c. the amount of money purchasers of the firm would pay for the continuing employment of the present workforce. d. the value that the firm's workforce contributes to each product produced or service rendered.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

Answerone player's optimal action choice taking the other player's action as given;