Which of the following will not affect the size of a nation's physical or human capital stock?
a. A new factory is constructed
b. A new machine is installed in company's plant.
c. An eighteen-year-old enrolls in college as a full-time student.
d. All of the above affect the size of a nation's capital stock.
d
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The Federal Reserve's performance in the mid-to-late 1980s, 1990s, and early 2000s has received high marks from economists, even without inflation targeting
Indicate whether the statement is true or false
Suppose the production of a good results in negative externalities. If output is at the intersection of the demand curve and the marginal social cost curve, then
A. the socially optimal level of output will be produced. B. society will incur a net social cost. C. society will want less output produced, and producers will be willing to satisfy this desire at a price that society deems acceptable. D. b and c
Which of the following is false?
a. A true or pure monopoly exists where there is only one seller of a product for which no close substitute is available. b. The situation in which one large firm can provide the output of the market at a lower cost than two or more smaller firms is called a natural monopoly. c. In monopoly, the market demand curve may be regarded as the demand curve for the firm because it is the market for that particular product. d. A monopoly firm is a price maker, and it will pick a price that is the highest point on its demand curve.
If an individual perfectly competitive firm charges a price above the industry equilibrium price, it will
A. sell part of what it can produce and gain less revenue than competitors will. B. not sell any of what it produces. C. sell all that it can produce and gain equal revenue with competitors. D. sell all that it can produce and gain more revenue than competitors.