Which of the following is the best definition of "physical capital"?
a. the labor utilized in the production process
b. man-made resources used to produce other goods
c. natural resources in their original state
d. the ownership of stock shares issued by a corporation
B
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Which of the following has been confirmed by empirical tests of the Ricardian model?
A) All predictions of the model for a multi-product, multi-country world are highly unrealistic. B) The existence of nontraded goods results in a high degree of specialization among countries. C) International trade has no impact on income distribution. D) The unimportance of economies of scale as a cause of trade. E) Companies tend to export goods in which they have a relatively high level of productivity.
A mid-size firm may have a "__________" line of credit, meaning all or part of it can be converted into an intermediate-term loan
A) revolving B) secured C) guaranteed D) mezzanine
What is a price floor?
Compared to the no-trade situation, when a country exports a good,
a. domestic consumers gain, domestic producers lose, and the gains outweigh the losses. b. domestic producers gain, domestic consumers lose, and the gains outweigh the losses. c. domestic consumers gain, domestic producers lose, and the losses outweigh the gains. d. domestic producers gain, but domestic consumers lose an equal amount.