Which of the following is a capital resource?
A. a piece of software used by a firm
B. a corporate bond issued by a computer manufacturer
C. a computer programmer
D. silicon (sand) used to make computer chips
Answer: D
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Suppose you found $1,000 hidden in your mattress and deposited it in a demand deposit account at your bank. If the reserve requirement was 20 percent, the deposit would directly create ____ in excess reserves and ultimately lead to a ____ total increase in the money supply, if all banks in the system lend out 100 percent of their excess reserves
a. $800; $4,000 b. $800; $5,000 c. $1,000; $4,000 d. $1,000; $5,000
Rules advocates believe that the central bank should change interest rates in an attempt to fine tune the economy
a. True b. False Indicate whether the statement is true or false
Economic goods are items that
A. are used only by economists. B. provide satisfaction to users. C. individuals would pay to get rid off. D. cannot be sold at any price in the market.
When demand is perfectly inelastic, an increase in price will
A) leave total revenue unchanged. B) increase total revenue. C) decrease total revenue. D) either increase total revenue or decrease total revenue, but it is impossible to tell which.