An example of physical capital is:
a. a $100 bill
b. a stock certificate.
c. a chainsaw.
d. a cheeseburger.
c
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What area in the above figure is the producer surplus at the efficient quantity?
A) A B) A + B + C C) F D) D + E + F
Most economists agree that ________ are the single most important source of productivity improvements.
A. increases in physical capital B. discoveries of natural resources C. technological advances D. increases in human capital
The nominal rate of interest is
A) the same as the price level. B) the real rate of interest minus the previous year's change in the price level. C) the interest rate actually paid by the borrower. D) lower than the real rate in a period of inflation.
Refer to the diagram for a specific economy. Which of the following best describes the relationship shown by this curve?
A. The demand for labor is large when the rate of inflation is low.
B. When the rate of unemployment is high, the rate of inflation is high.
C. The rate of inflation and the rate of unemployment are inversely related.
D. The rate of inflation and the rate of unemployment are directly related.