Which of the following lists contains, in this order, natural resources, human capital, and physical capital?
a. For a restaurant: the land the restaurant was built on, the money it borrowed to buy supplies, the freezers where the chops and steaks are kept.
b. For a furniture company: wood, the skills and knowledge of its workers, saws.
c. For a railroad: fuel, railroad engines, railroad tracks.
d. None of the above is correct.
b
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For a single restriction (q = 1), the F-statistic
A) is the square root of the t-statistic. B) has a critical value of 1.96. C) will be negative. D) is the square of the t-statistic.
Who is affected by externalities? Those receiving external benefits differ from those incurring external costs in that external benefits are associated with
a. government intervention b. market failure c. unclear property rights d. third parties e. free riders
Which of the following tax systems could not be structured to satisfy conditions of vertical equity?
a. a proportional tax b. a regressive tax c. a progressive tax d. a lump-sum tax
Researchers find that the income elasticity of poultry demand in Indonesia is 1.2. This implies that if income is expected to grow at 5%, then projected demand for poultry will:
a. Increase by 5% b. Increase by 6% c. Increase by 6.2% d. Increase by 4.2%