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Race Result Details

Racer Nick (nick1347)
Race Number 248
Date Thu, 6 Dec 2018 15:21:24 +0000
Speed 68 WPM Try to beat?
Accuracy 97.6%
Rank 2nd place (out of 3)

Text typed:

Ultimately, the real yield on stocks - and, therefore, through arbitrage, the real yield on longer bonds - is determined by the profitability of corporations and the real return that they earn on their capital. It is useful to distinguish between physical and financial returns. The return on physical capital includes here the return on the organization, management, and the so-called human capital - that is, the education, training, experience, and esprit de corps of the workforce.
Applied Intermediate Macroeconomics (book) by Kevin D. Hoover (see stats)

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