Gross investment minus net investment is equal to
A) consumption. B) nominal investment.
C) depreciation. D) real investment.
C
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The measured distribution of ________ is a more accurate indicator of the degree of economic inequality than the measured distribution of ________ because ________ data does not include ________
A) income; wealth; wealth; human capital B) wealth; income; income; holdings of real estate C) wealth; income; income; human capital D) income; wealth; wealth; employment information
Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. The market price falls to $24. What area represents consumer surplus?
A) V + W + X + Y B) R + S C) R + S + T + U D) R + S + V
A person has a comparative advantage in an activity whenever she
A) has an absolute advantage in the activity. B) can perform the activity at a lower opportunity cost than another person can. C) can do the activity in less time than anyone else. D) can do everything better than anyone else.
Which of the following would be a disadvantage of the partnership form of business?
a. limited liability b. too many products c. unlimited liability d. profits flow directly to the one person responsible for creating it e. one person must make all of the important managerial decisions