Economy A: gross investment equals depreciation Economy B: depreciation exceeds gross investment Economy C: gross investment exceeds depreciation Refer to the above information. Positive net investment is occurring in:
a) economy A only.
b) economy B only.
c) economy C only.
d) economies A and B only.
c) economy C only.
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Refer to Figure 4-3. Kendra's marginal benefit from consuming the first ice cream cone is
A) $9.00. B) $7.50. C) $3.50. D) $0.50.
Two goods, X and Y, are called substitutes if
a. an increase in PX causes more Y to be bought. b. an increase in PX causes less Y to be bought. c. an increase in PY causes less Y to be bought. d. an increase in income causes more of both X and Y to be bought.
Suppose a gardener produces both tomatoes and squash in his garden. If the opportunity cost of one bushel of squash is 2/5 bushel of tomatoes, then the opportunity cost of 1 bushel of tomatoes is
a. 2/5 bushel of squash. b. 5/2 bushels of squash. c. 2 bushels of squash. d. 5 bushels of squash.
Which of the following is an example of human capital?
a. textbooks b. hand held power tools c. knowing how to repair cars d. All of the above are correct.