Which of the following would an economist classify as capital?
a. 100 shares of Microsoft stock. b. $50 bill.
c. credit card. d. lawyer's personal computer.
d
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Speculative attacks against a currency are caused by fears of:
A. monetary policy tightening. B. exchange rate revaluations. C. exchange rate devaluations. D. balance-of-payments surpluses.
What is the relationship between government and coercion?
A) Government achieves its objectives exclusively through coercion. B) Government aims at minimizing the use of coercion in society. C) Government is generally granted the exclusive right to coerce adults. D) Only governments use coercion.
Absolute real economic growth is an increase in __________ from one period to the next
A) GDP B) Real GDP C) per-capita Real GDP D) per-capita GDP E) none of the above
The long run is best defined as:
A. a period of time sufficiently long that at least one factor of production is fixed. B. the period of time between annual accounting reports. C. one year or more. D. a period of time sufficiently long that all factors of production are variable.