Which of the following lists includes only capital resources (and therefore no labor or land resources)?
A. an ice arena; a professional hockey player; hockey uniforms
B. a hydroelectric dam; water behind the dam; power lines
C. the owner of a new startup firm; a chemistry lab; a researcher
D. automobiles owned by a car rental firm; computers at the car rental agency; the vans that shuttle rental customers to and from the airport
Answer: D
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Putting quarters into a Las Vegas slot machine and receiving quarters out of that machine is analogous to the circular flow model because
a. the value of the resources flowing into firms is precisely the value of the goods and services flowing out of firms b. the value of the components of national income flowing into the firms is precisely the value of consumption and investment flowing out of the firms c. the absolute dollar amount of the production goods going out from the firms equals the absolute dollar amount of the consumption goods that households consume d. households gamble e. you can then substitute the casino economy for the get-rich-quick schemes that are all too prevalent in the economy today
If business fluctuations are from demand-side forces,
a. monetary and fiscal policy will move inversely. b. interest rates and budget deficits will move inversely. c. unemployment and inflation will move inversely. d. unemployment and budget deficits will move inversely.
Which of the following would be consistent with a decline in labor productivity?
a. Faster growth in capital formation b. Enhanced worker quality c. Decreased manufacturing production d. High federal government budget surpluses