A company requires that all new employees become certified in using Microsoft Office. This investment is in ________ capital.
A. tangible
B. financial
C. productive
D. human
Answer: D
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According to economists, human activity is unresponsive to changes in costs
a. True b. False Indicate whether the statement is true or false
During a war, governments will sometimes draft people, most of whom are presently employed, into the army. An economist, computing the real cost of the war, would be sure to include which of the following items?
a. the value of the civilian goods no longer produced by the new soldiers b. the cost of feeding and clothing the new soldiers c. the dollar cost of the payroll d. the higher prices of civilian goods due to wartime shortages e. the cost of transporting the soldiers to combat
The interest-rate effect is partially explained by the fact that a higher price level reduces money demand
a. True b. False Indicate whether the statement is true or false
How does a natural monopoly function?
a) A few firms are in perfect competition b) Imperfect competition makes it difficult for firms to do business c) a single firm supplies all the output d) The government supplies all buyers with the product