Dead capital refers to
A) a capital resource that lacks clear title ownership.
B) a capital resource whose owner is deceased.
C) a capital resource jointly owned by more than one person.
D) a capital resource that has no more useful life.
A
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Some resources are better suited to produce certain goods than other resources. This fact leads to
A) a linear production possibilities curve. B) inefficiency in the economy. C) the law of increasing additional cost. D) increases in technology.
A country that must reduce current consumption to increase future consumption possibilities
A) must be allocating resources inefficiently. B) must be producing along the production possibilities curve. C) must be producing outside the production possibilities curve. D) must not have private ownership of property.
An increase in the government's budget deficit ________ the real interest rate and ________ the equilibrium quantity of national saving.
A. increases; decreases B. increases; increases C. decreases; decreases D. decreases; increases
?Hair Pins /hourBandanas /hourNigel410Mia93
Consider two individuals, Nigel and Mia, who produce hair pins and bandanas. Nigel's and Mia's hourly productivity are shown in Table 18.3. Mia's opportunity cost of producing one hair pin is:
A. 1/3 of a bandana. B. 2.5 bandanas. C. 3 bandanas. D. 10 bandanas.