As the inventory of a firm falls
A. its intangible capital decreases.
B. its social capital increases.
C. there is no change in its capital.
D. its tangible capital decreases.
Answer: D
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Explain what is meant by the term ceteris paribus. Why is this concept often used in economic models?
What will be an ideal response?
Refer to Figure 4-2. What area represents producer surplus at a price of P1?
A) A + C B) A + C + E C) C D) C + E
Interest in environmental problems has intensified, perhaps because
a. for the first time in history in the 1970s people began to die from pollution-related diseases. b. rising incomes have caused people to be more concerned with the quality of their lives. c. the centrally planned economies are polluted. d. All of the above are true.
Which of the following is a difference between the White test and the Breusch-Pagan test?
A. The White test is used for detecting heteroskedasticty in a linear regression model while the Breusch-Pagan test is used for detecting autocorrelation. B. The White test is used for detecting autocorrelation in a linear regression model while the Breusch-Pagan test is used for detecting heteroskedasticity. . C. The number of regressors used in the White test is larger than the number of regressors used in the Breusch-Pagan test. D. The number of regressors used in the Breusch-Pagan test is larger than the number of regressors used in the White test.