In economics, the term physical capital
A. refers to the stock of merchandise already produced.
B. refers to funds used by businesses to acquire goods and services.
C. refers to the process of raising funds through the stock market.
D. refers to all manufactured resources used for production.
Answer: D
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If you double input, output more than doubles.
What will be an ideal response?
Refer to the graph above. Which of the following changes will shift AD 1 to AD 2?
A cut in personal and business taxes A shrinkage in the value of stocks and other financial assets An increase in the value of the dollar relative to other currencies An increase in real interest rates
For the money expansion process to produce the maximum potential multiplier effect
A. all loans from banks have to be redeposited throughout the banking system. B. the Fed has to sell government bonds to back up the loans. C. all loans of a given bank have to be deposited in that bank. D. the required reserve ratio has to be 100 percent.
The ________ is the additional revenue a firm earns by employing one additional unit of labor.
A. per-worker net profit B. average labor revenue C. marginal revenue product of labor D. marginal labor cost