We calculate the amount of physical capital in an economy by adding up the value of all:
A. skills and expertise of the working age population.
B. skills and expertise of all employed people.
C. tools, equipment, and structures.
D. technological capabilities used in production.
Answer: C
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This president made the campaign promise: "Read my lips: no new taxes." ______________.
Fill in the blank(s) with the appropriate word(s).
Personal disposable income is pre-tax income that flows directly to households
Indicate whether the statement is true or false
The concurrent problems of inflation and unemployment are termed:
a. depression. b. downturn. c. deflation. d. demand-pull inflation. e. stagflation.
Real GDP is calculated because
a. it is a much better measure of economic behavior than nominal GDP b. the value of the dollar is increasing c. it allows us to make comparisons between countries d. nominal GDP has no theoretical foundation e. nominal GDP is corrected for inflation