Which of the following represents dead capital?
A) capital that lacks clear title of ownership B) capital that has worn out over time
C) capital that has become obsolete D) none of the above
A
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Firms often seek to borrow money to expand their capital stock, and the price they pay for that money is the interest rate. What happens to the demand for money if the interest rate increases?
A. It increases. B. It decreases. C. It does not change. D. The quantity of money demanded will increase.
One complication that tends to prolong recessionary gaps is that wages
a. are fixed by unions, which represent nearly all workers in the United States. b. tend to rise rapidly. c. rarely fall. d. tend to move in the opposite direction from prices.
Why don't we divide the economic pie evenly so that each person receives the same income?
The interest rate effect is part of the reason
A. the aggregate demand curve is downward sloping. B. the short-run aggregate supply curve is upward sloping. C. the long-run aggregate supply curve is vertical. D. the aggregate demand curve is upward sloping.