Over a given period, economic depreciation is the change in capital equipment's
A) output.
B) market value.
C) rate of return.
D) cost of maintenance.
B
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The Fed can attempt to increase the federal funds rate by
A) selling government bonds, which increases the money supply. B) selling government bonds, which decreases the money supply. C) buying government bonds, which increases the money supply. D) buying government bonds, which decreases the money supply.
Minimum wage laws create unemployment for low-skilled workers because the legal minimum wage is set
A) above the market wage, causing the quantity of labor supplied to be greater than the quantity of labor demanded. B) below the market wage, causing the quantity of labor supplied to be greater than the quantity of labor demanded. C) above the market wage, causing the quantity of labor supplied to be less than the quantity of labor demanded. D) below the market wage, causing the quantity of labor supplied to be less than the quantity of labor demanded.
The firm's short-run supply curve begins at an output of
A. 0.
B. 40.
C. 45.
D. 50.
A U.S. tariff on oil would reduce the domestic quantity of oil demanded.
Answer the following statement true (T) or false (F)