The Karmic Deed Restaurant uses all of the following to produce vegetarian meals. Which of them is an example of physical capital?
a. the owner's knowledge of how to prepare vegetarian entrees
b. the money in the owner's account at the bank from which she borrowed money
c. the tables and chairs in the restaurant
d. the fresh fruits, vegetables, and grains the restaurant uses to prepare its meals
c
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New growth theorists believe that increased economic growth is primarily driven by: a. higher level of savings
b. higher level of capital investments. c. increased foreign investment. d. technological innovation and ideas.
The expected price level is important because
a. it is the equilibrium price level in the short run b. it determines the actual price level in the short run c. it determines the actual price level in the long run d. firms and resource owners make long-term agreements based on the expected price level
Economists at which administrative department analyze data on workers and those looking for work to help formulate labor-market policies?
In contrast with nominal GDP, real GDP refers to nominal GDP
What will be an ideal response?