The change in the quantity of capital from one period to the next is equal to
A) net investment.
B) financial investment.
C) gross investment.
D) wealth.
E) depreciation.
A
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Explain why GDP per capita varies among countries even though countries eventually converge to their balanced growth paths
What will be an ideal response?
The downside to targeting specific activities rather than the externality itself is:
A. it risks misaligning the incentives that producers and consumers face with the goal of minimizing the externality. B. it requires a number of different activities to be identified and several different policies to be written, which can be cumbersome and difficult to manage. C. any one activity is likely to not make a significant difference in the presence of an externality. D. All of these statements are true.
The table above shows the short-run product schedule for Virginia's Tee-Shirts. The worker for whom the law of diminishing returns initially occurs is the ________ worker
A) 5th B) 4th C) 3rd D) 2nd
A production function defines the output that can be produced
A) at the lowest cost, given the inputs available. B) for the average firm. C) if the firm is technically efficient. D) in a given time period if no additional inputs are hired. E) as technology changes over time.