China has invested heavily in turbine manufacturing and in 2009 had become the world's largest wind power market. The investment in turbine manufacturing is an example of ________ investment.
A. human capital
B. tangible capital
C. social capital
D. intangible capital
Answer: B
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Does economic growth eliminate scarcity?
If we know average total cost and the amount of output, then we can always calculate total cost by
A) adding average total cost and the amount of output. B) subtracting the amount of output from average total cost. C) multiplying average total cost by the amount of output. D) dividing average total cost by the amount of output.
An increase in natural resources would presumably ______ the costs of production and ______ the economy’s sustainable rate of output.
a. decrease; increase b. decrease; decrease c. increase; increase d. increase; decrease
Who participates in markets?
A. Consumers and government agencies. B. Business firms. C. Business firms and consumers. D. All of the choices are correct.