Long-lasting resources used to expand the production of goods and services in the future are called
a. consumables.
b. capital goods.
c. consumer durables.
d. inventories.
B
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To avoid maturity mismatches, most financial intermediaries tend to
A) have assets whose maturities on average exceed the maturities of their liabilities. B) have assets whose maturities on average are less than the maturities of their liabilities. C) have assets whose maturities on average mirror the maturities of their liabilities. D) hold primarily real assets.
The requirement that all drivers must carry auto insurance reduces
A) moral hazard. B) the effectiveness of signaling. C) adverse selection. D) the chance of auto accidents.
A command-and-control policy is another term for a
a. pollution permit. b. government regulation. c. corrective tax. d. Both a and b are correct.
Which of the following is most likely to be sold in a perfectly competitive market?
A. Wheat B. Law School Admission Test (LSAT) tutoring C. Automobiles D. Fast food