The least liquid asset on this list is
A. money.
B. houses.
C. bonds.
D. stocks.
Answer: B
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If the opportunity cost of capital is below the rate of return to capital in the perfectly competitive beauty salon industry,
A. resources will flow into the industry. B. beauty salon owners must be earning negative economic profit. C. the beauty salon industry cannot be in long-run equilibrium. D. beauty salon owners must be earning negative marginal revenue at their current levels of output.
Which of the following examples can be associated with the task specificity aspect of an asset?
a. An employer's investment in employee skill building. b. Purchasing machines which can be used to produce only a particular product. c. Building a facility in a low cost locality. d. An employer's investment in office renovation.
If consumption is $8 billion, investments is $4 billion, government purchases are $2 billion, imports are $1 billion, and exports are $2 billion, GDP must equal:
A. $17 billion. B. $14 billion. C. $15 billion. D. $16 billion.
Which of the following does NOT help explain why oligopolies exist?
A. product homogeneity B. mergers C. barriers to entry D. economies of scale