Increases in the stock of capital are the result of decreases in:
A. gross investment.
B. depreciation.
C. net investment.
D. All of these.
Answer: B
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Suppose the government reduces its budget deficit at the same time that energy prices rise sharply. Which of the following is most likely to happen?
a. The price level will rise, since higher energy prices increase the cost of production b. Real GDP will fall since both events will tend to cause an economic contraction. c. The price level will fall because the aggregate demand curve has shifted leftward. d. Real GDP will rise as less government spending leads to more opportunities for the private sector. e. Both the price level and real GDP will fall.
The cross-price elasticity of demand measures:
A. the relationship between the demand for one good and the supply of another. B. the relationship between the demand for one good and the price of another. C. the relationship between the demand and supply of one good at the intersection of the curves. D. the elasticity of demand at the intersection of the supply and demand curves.
Refer to the information provided in Table 6.3 below to answer the question(s) that follow. Table 6.3Dozens of Oysters per DayTotal UtilityMarginal Utility160?2104?3134?4152?5?8Number ofBeers per DayTotal UtilityMarginal Utility140?270?394?4114?5?14Refer to Table 6.3. Diminishing marginal utility sets in after the ________ dozen oysters per day.
A. first B. second C. third D. fourth
When discussing pass through effects, it is fair to say
A) that the degree of pass through varies across nations, time and industries. B) that the degree of pass through varies across nations. C) that the degree of pass through varies across time and industries. D) that the degree of pass through varies across industries.