The term "capital," as used in macroeconomics, refers to
A) the plant, equipment, buildings, and inventories of raw materials and semi-finished goods.
B) financial wealth.
C) the sum of investment and government purchases of goods.
D) investment.
A
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Indirect taxes are levied on
a. spending b. saving c. income d. wealth e. none of the above
What is Bill's economic profit at the profit-maximizing output level?
a. $115 b. $225 c. $25 d. $75
The Ponderosa Bank receives a new deposit of $2,500. The reserves requirement is 20 percent. How much can this bank loan out as a result of this deposit?
A. $25,000 B. $12,500 C. $3,125 D. $2,000 E. $500
If the absolute value of the tax elasticity of supply is 0.8, a tax decrease of 10 percent will
A. Decrease output by 12.5 percent and increase tax revenues. B. Increase output by 12.5 percent and increase tax revenues. C. Increase output by 8 percent and decrease tax revenues. D. Decrease output by 8 percent and increase tax revenues.