In economics, which of the following is the best example of capital?
A.) Money held in a checking account.
B.) A computer used by a lawyer to prepare legal documents.
C.) Investment in training for employees in an accounting firm.
D.) The executive producer of a new adventure movie.
B.) A computer used by a lawyer to prepare legal documents.
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Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007.YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.00100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250The Consumer Price Index for the year 2009 is
A. 50. B. 200. C. 100. D. 150.
What is the division of labor? How does it raise efficiency and productivity?
What will be an ideal response?
With rent controls set below the equilibrium rent, what mechanism might arise that moves the market closer to the efficient equilibrium?
A) decreased search costs B) black market activity C) increased advertising by landlords D) more favorable leases offered to tenants
Which of the following statements best describes a consumer's budget line?
A) It shows all combinations of goods among which the consumer is indifferent. B) It shows the limits to a consumer's set of affordable consumption choices. C) It shows the desired level of consumption for the consumer. D) It shows the consumption choices made by a consumer.