Which of the following correctly identifies characteristics of land and capital?
A) Land and capital can both be rented and owned.
B) Land is rented, whereas capital is owned.
C) Land can be owned or rented, whereas capital can only be owned by a firm.
D) Capital can be owned or rented by a firm, whereas land can only be owned by a firm.
A
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People in the U.S. will rarely pay a great deal per gallon to obtain water because
A) there are so many excellent substitutes for water. B) there is no relationship between objective price and subjective value. C) they are usually creatures of habit. D) they think water, as a basic necessity, ought to be supplied at a very low price. E) they place a very low marginal value on water.
The corporate hierarchy is the most complex and over managed in
A. Japan. B. South Korea. C. France. D. United States
Depreciation is
A. the reduction in the value of capital goods due to physical wear and tear. B. not included in Gross Domestic Product (GDP) from the income side. C. always higher than the capital consumption allowance. D. added to Gross Domestic Product (GDP) to reach Net Domestic Product (NDP).
Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Assume Mr. Lingle?s budget is AC. Given his current monthly income he does not have enough income to purchase the quantities of the two goods at point
A. A. B. B. C. E. D. D.