A cash register at a coffee shop should be considered
A. real capital.
B. either financial or real capital.
C. financial capital.
D. none of the choices is correct.
Answer: A
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Answer the next question(s) based on the following information for Manfred's Shoe Shine Parlor.Units of LaborTotal ProductMarginal ProductTotal Revenue00 11414$422 10 330 90435 539 1176 1267442132Assume Manfred hires labor, its only variable input, under purely competitive conditions. Shoe shines are also sold competitively. At what price does each shoe shine sell?
A. $1 B. $3 C. $2.50 D. $2
If an effective minimum wage is set,
a. a labor surplus is created. b. a labor shortage results. c. wages fall below the market wage. d. the level of employment rises.
Consider the US market for chocolate, a market in which the government has imposed a price ceiling. Which of the following events could convert the price ceiling from a nonbinding to a binding price ceiling? a. a government study that shows that consuming chocolate increases the incidence of cancer. b. a large increase in the size of the cocoa bean crop; cocoa beans are used to produce
chocolate. c. South American cocoa bean producers refuse to ship to chocolate producers in the US. d. a sharp drop in consumer income; chocolate is a normal good.
Which of the following items plays a role in determining productivity?
a. physical capital b. natural resources c. technological knowledge d. All of the above are correct.