An example of physical capital is:
A. a computer.
B. a pen.
C. a factory.
D. All of the items are examples of physical capital.
Answer: D
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When computing a price index, the base year is
A) the earliest year for which data are available. B) the year that is chosen as the point of reference for comparison of prices with other years. C) the most recent year for which data are available. D) the most recent year in which the inflation rate was close to zero.
The Depository Institutions Deregulation and Monetary Control Act of 1980 did not
a. require all commercial banks to join the Federal Reserve System. b. expand the use of Fed services to nonmember banks. c. increase FDIC and FSLIC insurance coverage. d. expand the availability of checking accounts.
Economic theory predicts a close relationship between productivity and real wages. Does history confirm this relationship?
Which of the following is NOT subject to a network effect?
A. rotating your tires every six months B. listening to popular songs C. the layout of the keys on your keyboard D. purchasing a new LED TV set