Social overhead capital is basic infrastructure projects such as roads, power generation and irrigation systems.
Answer the following statement true (T) or false (F)
True
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Necessities, such as food and shelter, are product purchases that consumers are sensitive to, so the demand is elastic for these goods.
Answer the following statement true (T) or false (F)
An increase in the level of total factor productivity will lead to
A) an increase in the capital-labor ratio and an increase in real GDP worker. B) an increase in investment and a decrease in depreciation. C) an upward shift of the break-even investment line and an increase in the capital-labor ratio. D) a higher rate of dilution and lower break-even investment.
Most prophecies of the imminent exhaustion of many natural resources have not come true because
a. such resources are generally available in infinite quantities. b. rising prices for resources have stimulated supply and encouraged innovation. c. the demand for most natural resources has fallen as income levels have increased. d. government price floors have prevented resource exhaustion.
The difference between GDP and disposable income is
A) net taxes. B) unplanned investment spending. C) national income. D) actual investment spending.