Capital is a stock variable
a. True
b. False
A
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When positive externalities are present in a market, it means that:
A. private benefits are less than social benefits. B. private benefits are less than external benefits. C. social benefits are less than external benefits. D. external benefits are equal to social benefits.
If demand is elastic, then
a. the percentage change in quantity demanded is larger in absolute value than the percentage change in price b. supply is inelastic c. prices can neither rise nor fall d. the percentage change in quantity demanded is smaller in absolute value than the percentage change in price e. supply is elastic
Which of the following is the best example of an oligopolistic industry?
A. convenience stores B. smartphone manufacturing C. public utilities D. book publishing
When desired national saving equals desired national investment (in a closed economy), what market is in equilibrium?
A. The stock market B. The foreign exchange market C. The money market D. The goods market