Which resource is not an example of capital?
a. Stocks or bonds
b. Machinery
c. Equipment
d. Physical plants
a
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The 1920s is sometimes described as the decade representing the emergence of "mass society." This refers to developments in all of the following except
(a) Production methods and communication systems (b) Consumption patterns and installment credit (c) Attitudes and culture (d) There is no "except"; all of the above are part of the emergence of "mass society"
An excise tax
A) acts as a negative incentive to consume that good or service. B) is illegal in Florida, Georgia, and Alaska. C) is often used to encourage the use of a good. D) is a value added tax (VAT).
The demand curve facing a typical firm in a perfectly competitive market is horizontal
a. True b. False
The value of a resource to a firm depends on the value of the final product supplied to the market
Indicate whether the statement is true or false