China has invested heavily in turbine manufacturing and in 2009 had become the world's largest wind power market. The investment in turbine manufacturing is an example of ________ investment.
A. intangible capital
B. tangible capital
C. social capital
D. human capital
Answer: B
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Refer to Figure 7-3. Without the quota, the domestic price of peanuts equals the world price which is $2.00 per pound. What is the quantity of peanuts demanded by domestic consumers in the absence of a quota?
A) 10 million pounds B) 28 million pounds C) 30 million pounds D) 40 million pounds
Ensuring that all information relevant for the pricing of securities is available to the public is the responsibility of the
A) Federal Reserve. B) Securities and Exchange Commission. C) New York Stock Exchange. D) NASD.
Refer to the accompanying figure. If the market for doughnuts is perfectly competitive, and the price of a doughnut is 25 cents, then at this firm's profit maximizing level of output, the firm will earn an economic ________ of ________ per day.
A. loss; $80 B. loss; $10 C. profit; $80 D. profit; $8
During World War II, Hitler would often order his army to hold a particular town or river “at all costs.” Was this rational? If so, explain. If not, indicate which economic idea it violated.
What will be an ideal response?