Banks can create
a. income
b. power
c. wealth
d. money
e. capital stock
D
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In the above table, between what two levels of output does one first observe the law of diminishing returns?
A) 0 and 1000 B) 1000 and 3000 C) 3000 and 4000 D) 4000 and 4500
An insurance plan that carries a low annual premium, but also a low annual maximum amount that insurance will cover is called a
A. PPO. B. fee-for-service provider. C. HMO. D. mini-med.
Two countries are the same, except one is poorer. Assuming the traditional assumption about the production function is made there are
a. diminishing returns to capital so the poor country grows slower. b. increasing returns to capital so the poor country grows slower. c. diminishing returns to capital so the poor country grows faster. d. increasing returns to capital so the poor country grows faster.
The implicit cost of capital is:
a. the expense associated with leasing machines. b. the expense associated with buying machines. c. the opportunity cost of capital used by a business d. irrelevant for determining economic profit.