Examples of physical capital include _______________________. Examples of human capital include ______________________________
A) knowledge one picks up through education and training; factories and computers
B) machines and factories; chairs and desks
C) knowledge one picks up through education and experience; factories and machines
D) machines and factories; knowledge one picks up through education and training
D
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Refer to Table 15-2. What is the amount of profit that the firm earns?
A) $34.50 B) $42 C) $47 D) $49
The flexibility of a firm's techniques of production is an important determinant of its costs.
Indicate whether the statement is true or false.
A political candidate running in a two-person race is likely to occupy
A) an extreme end of the political spectrum and hope that his or her opponent will gravitate toward the middle so that he or she can then claim that his or her opponent has flip-flopped. B) the middle of the political spectrum and label his or her opponent as an extremist (either liberal or conservative). C) a position somewhere between the middle of the political spectrum and an extreme end so that he or she can move either way shortly before the election. D) one extreme end of the political spectrum early in the race and the other extreme end near the end of the race.
Any reserves that banks hold in excess of required reserves are called
A) excess reserves. B) margin reserves. C) federal reserves. D) surplus reserves.