Capital, K, includes
A) money.
B) machinery.
C) business loans.
D) know-how.
B
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Ricardian equivalence requires that saving by the private sector decreases when the deficit increases
Indicate whether the statement is true or false
The oil depletion formula discussed in the chapter uses "proven resources" in its calculation. Explain what these "proven resources" are with respect to known and unknown oil reserves, and economical and uneconomical oil extraction met
What will be an ideal response?
What is a cap-and-trade policy? (Be certain to mention marketable permits.) Suppose there are two firms in an area, each emitting tons of sulfur
The government decides on a target level of 200 tons of sulfur, and gives each firm a permit to emit 100 tons of sulfur. Suppose Firm A is very efficient and can reduce pollution by 100 tons with an abatement cost of $500. Firm B has an older plant, so it will cost Firm B $1,000 to reduce emissions by 100 tons. What will occur with marketable permits?
The burden of a tax on a consumer good with very inelastic demand is usually
a. shifted to the producer. b. shared equally by the producer. c. zero since consumers do not decrease their purchases of the good. d. shifted to the final consumer.