When a nation's political environment is more favorable, it will:
a. attract more physical investment.
b. encourage individuals to invest more heavily in human capital.
c. encourage the development and efficient use of natural resources.
d. do all of these.
d
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The process by which monopoly profits lead to technological progress in known as
A) economies of scale. B) destructive creation. C) imperfect competition. D) creative destruction.
When positive economic profits exist in an industry:
A) the market price of the good produced by the industry is less than the average total cost of the industry. B) resources flow from less productive uses to that particular industry. C) there is an exit of firms from the industry. D) the market price of the good produced by the industry is less than the marginal cost faced by the industry.
Refer to Figure 12-6. To maximize his profit, Jason should produce the rate of output indicated by point
A) d. B) b. C) e. D) a.
Karina likes to keep her assets in many forms. She has invested in stocks, purchased some valuable pieces of jewelry, deposited money into a retirement account, and added money to her checking account. Which of Karina’s assets is most liquid?
a. her checking account b. the valuable jewelry c. the stocks d. her retirement account