An example of tangible capital is
A. an idea for a new business.
B. the goodwill a firm has established through advertising.
C. a restaurant's unsold, unopened cans of soda.
D. knowledge of how to program a computer.
Answer: C
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Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Estonia consume?
A) 75 B) 100 C) 125 D) 200
Which of the following statements is true in the context of the long run?
a. All the factors of production are fixed. b. No new firms enter the market. c. The producer can vary all the factors of production. d. The firms earn positive economic profit. e. Large firms tend to acquire market power.
From 1979 to 2011, which country had the highest growth rate of GDP per hour of work?
a. Singapore b. United Kingdom c. France d. Japan
Export subsidies are:
A. maximum limits on the quantity or total value of specific products imported to a nation. B. excise taxes or duties placed on imported products. C. licensing requirements, unreasonable quality standards, and the like designed to impede imports. D. government payments to domestic producers to enable them to charge lower prices and sell more goods in world markets.