Net investment is
A) the same as gross investment.
B) gross investment minus depreciation.
C) the same as depreciation.
D) the same as wealth.
E) gross investment plus depreciation.
B
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Briefly describe the following types of financial intermediaries:
1. Commercial bank 2. Investment bank 3. Mutual fund 4. Hedge fund 5. Pension fund 6. Insurance company
When firms price discriminate they
A) sell to new consumers who would not have bought at the profit-maximizing uniform price but lose sales to existing consumers because of the higher prices. B) sell to new consumers that would not have bought at the profit-maximizing uniform price. C) lose surplus from consumers who would have bought at the profit-maximizing uniform price. D) None of the above.
Bonnie volunteers to help make floral arrangements at a flower shop. She is an example of
A) entrepreneurial ability. B) labor. C) physical capital. D) human capital.
In a perfectly competitive market, an increase in demand will lead to a long-run increase in the product's price:
A. every time. B. if the increase in demand for inputs drives up the price of inputs. C. if the good in question is a Giffen good. D. if and only if the increase in demand is temporary.