U.S. capital at the end of 2012 equals U.S. capital at the beginning of 2012 plus
A) gross investment during 2012.
B) net investment during 2012.
C) nothing, because capital can't change in just one year.
D) gross investment during 2012 minus net investment in 2012.
E) depreciation during 2012 minus gross investment during 2012.
B
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You have just bought a used car, and drive away satisfied that you've made a good deal on the purchase. What would an economist say about your "gain" on the deal?
a. Your gain has clearly meant that the seller lost on the deal. b. The seller has clearly gained, and you have actually lost on the deal. c. Both you and the seller have gained something. d. If your gain is too large, then the deal should be re-negotiated. e. If the seller's loss is too large, then the deal should be re-negotiated.
A movement along the demand curve might be caused by a change in
a. income. b. the prices of substitutes or complements. c. expectations about future prices. d. the price of the good or service that is being demanded.
With an adjustable rate mortgage, if the rate of inflation jumps, then the nominal rate on the mortgage will
What will be an ideal response?
If a severe natural disaster reduced the population of a city, one would expect a natural monopoly to:
A. raise prices. B. split into two firms. C. increase sales. D. merge with a competitor.