For a country to acquire more physical capital it:
A. faces the investment trade-off.
B. must forgo current consumption.
C. must pay for the investment by reducing current consumption.
D. All of these are true.
Answer: D
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Marginal cost is calculated for a particular increase in output by
A) dividing the change in total cost by the change in output. B) dividing the total cost by the change in output. C) multiplying the total cost by the change in output. D) multiplying the change in total cost by the change in output.
Refer to Figure 9.8. In order to gain the equivalent imports as a $50 tariff, the government would have to impose a quota of
A) 100 tons of sugar. B) 200 tons of sugar. C) 300 tons of sugar. D) 350 tons of sugar. E) 500 tons of sugar.
Imports are goods and services that are produced:
A. in other countries and consumed domestically. B. domestically and consumed in other countries. C. and consumed in other countries. D. and consumed domestically.
Increases in human capital will promote economic growth.
a. true b. false