Which of the following is NOT an example of physical capital?
A) a computer
B) a lawn mower
C) a dump truck
D) a building
E) a bond
E
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When a home builder decides to computerize all of its production schedule, it directly answers the ________ question
A) for whom B) what C) where D) how E) why
Classical economists believed that
a. the market system always operated at a position of full employment. b. occasional problems of unemployment could occur but would be quickly eliminated by the system of self-regulating markets. c. the price level would adjust to balance planned saving with planned investment. d. the economy had several possible equilibrium output levels.
A worker repairing VHS cassette-tape players was laid off because most of his customers have started using DVD players. This worker is now:
What will be an ideal response?
The dilemma in a prisoner's dilemma is that:
A. the players would be better off if they both played a dominated strategy. B. only one player has a dominant strategy, but the other player is uncertain about what to do. C. the outcome is random, so players are uncertain about which strategy to play. D. the players may be trapped in a game they don't know how to play.