The most important dimension of capital is
A. time.
B. the interest rate.
C. depreciation.
D. immediate returns.
Answer: A
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In the long run, a firm has
A) no factors of production that are fixed. B) no factors of production that are variable. C) no factors of production that are either fixed or variable. D) fixed factors of production but no variable resources.
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for coffee. What happens in this market if buyers expect the price of coffee to rise?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Explain how a small amount of international debt can become a very heavy burden for a developing economy
When a firm experiences diminishing marginal product, what is the shape of the curve that represents the value of the marginal product of labor?
a. U-shaped b. vertical c. downward sloping d. upward sloping