The most important dimension of capital is
A. immediate returns.
B. depreciation.
C. time.
D. the interest rate.
Answer: C
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If the budget deficit were reduced,
a. interest rates and investment would increase. b. interest rates would increase and investment would decrease. c. interest rates and investment would decrease. d. interest rates would decrease and investment would increase.
Suppose a monopolist's costs and revenues are as follows: ATC = $50; MC = $35; MR = $40; P = $55. The firm should
A. increase output and decrease price. B. shut down. C. not change output or price. D. decrease output and increase price.
The following are incomes earned but not received by the nation's households, except:
A. Corporate income taxes B. Social security contribution C. Transfer payments D. Undistributed corporate profits
In a perfectly competitive industry, in the long-run equilibrium
A) the typical firm is producing at the output where its long-run average total cost is not minimized. B) the typical firm is earning an accounting profit greater than its implicit costs. C) the typical firm is maximizing its revenue. D) the typical firm earns zero profit.