Which of the following is not an example of a capital input?
a. A person's skills and abilities, which can be employed to produce valuable goods and services.
b. Factories and offices where goods and services are produced
c. Tools and equipment.
d. Computers used by a company to record inventory, sales, and payroll.
a
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Nations with slower growth rates can "catch up" to rapidly growing countries by
A) using budget deficits as a long-run policy tool. B) adopting the technologies of the wealthier nations. C) pressuring the central bank to increase the money supply and reduce interest rates. D) raising the minimum wage. E) exporting more than it imports.
Rent-seeking activities are socially wasteful because they use scarce resources but do not add to society's output
a. True b. False
Christine works for a firm that makes tires for cars. How is Christine's wage affected if the demand for cars increases?
Refer to the above diagram. The economy is at equilibrium at point B. If the goal is to move the economy to point A, the appropriate way to accomplish this is through:
A. a shift in the aggregate demand curve from AD1 to AD3. B. contractionary fiscal policy. C. expansionary fiscal policy. D. an increase in taxes.