Each of the following statements about capital are correct EXCEPT
A. Capital is a "man"-made good used to produce other goods and services.
B. Japan has more capital than any other country in the world.
C. Office buildings and shopping malls are examples of capital.
D. Capital is considered a passive resource.
B. Japan has more capital than any other country in the world.
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Harry's Hookahs incurs $700,000 per year in explicit costs and $500,000 in implicit costs. The company earns $1.4 million in revenues and has $3.7 million in net worth. Based on this information, what is the accounting profit for Harry's Hookas?
A) $200,000 B) $700,000 C) $900,000 D) $1.1 million
How does expansionary monetary policy affect net exports?
A) Expansionary monetary policy reduces exports and increases imports. B) Expansionary monetary policy reduces exports and reduces imports. C) Expansionary monetary policy increases exports and reduces imports. D) Expansionary monetary policy increases exports and increases imports.
Road pricing will improve the allocation of resources to transportation
Indicate whether the statement is true or false
Which of the following items would be considered scarce?
A) water B) diamonds C) potato chips D) All of the above are scarce.