Which of the following is considered financial capital?
A. Money that accumulates as profit in a firm's checking account.
B. Stock and bonds sold to finance operations.
C. Funds a firm has in a savings account to be used to buy equipment that wears out.
D. All of these are financial capital.
Answer: D
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The upward slope of the supply curve reflects the
A. law of diminishing marginal utility. B. principle of specialization in production. C. fact that price and quantity supplied are inversely related. D. law of supply.
Marginal social costs are equal to
A. marginal private costs + marginal external costs. B. marginal private costs - marginal external costs. C. marginal private costs + marginal internal costs. D. marginal private costs - marginal internal costs.
Marginal analysis involves looking at the extra costs involved in a decision.
Answer the following statement true (T) or false (F)
Collusion always involves firms engaging in a
A) vertical merger. B) horizontal merger. C) cooperative game. D) noncooperative game.