The phenomenon of equipment or structure going through "wear and tear" and eventually becoming obsolete is referred to as:
A) depreciation. B) capital tear.
C) intertemporal loss. D) creative destruction.
A
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Democracy _______ essential to economic growth and according to the capabilities approach should _______________.
A. is; also be seen as essential to sustaining basic freedoms B. is not; still be essential in sustaining basic freedoms C. is not; not be considered as improving lives if it doesn't directly contribute to growth D. is; not be considered to create capabilities without directly contributing to growth
If either the production or consumption of a good generates an external cost, then the:
A. social demand curve will lie to the right of the private demand curve. B. social demand for the good will equal zero. C. social marginal cost curve will lie to the left of the private marginal cost curve. D. social marginal cost curve will lie to the right of the private marginal cost curve.
Which of the following is not an argument used in favor of protectionism?
A. to protect an "infant" industry B. to reduce prices paid by domestic consumers C. to preserve national security D. to protect against "unfair" competition because of cheap foreign labor
When the price of a financial asset ________ its interest rate will ________
A) rises; rise B) falls; fall C) falls; rise D) rises; remain the same