A reduction in the value of capital goods over time due to their use in production is called:
a. amortization.
b. erosion.
c. consumption.
d. investment.
e. depreciation.
e
You might also like to view...
Let D= demand, S = supply, P = equilibrium price, and Q= equilibrium quantity
What happens in the market for walnuts if the Centers for Disease Control and Prevention announces that consuming a half cup of walnuts each week helps to lower levels of bad cholesterol? A) S increases, D no change, P decreases, Q increases. B) D increases, S no change, P and Q increase. C) D no change, S increases, P decreases, Q decreases. D) D and S increase, P and Q decrease.
Many governments around the world attempt to improve the incomes of commodity producers by taking steps to increase the commodity price in the domestic market
Although this may reduce quantity demanded for the product, the action may be effective because: A) commodity supply tends to be inelastic, so quantity does not decline by much. B) commodity supply tends to be elastic, so producer income increases as a result of the higher prices and quantities. C) commodity demand tends to be inelastic, so higher prices generate higher sales revenue. D) commodity supply tends to be elastic, so producer income increases as a result of the higher prices and quantities.
If a firm hires 215 workers it will produce 3,016 units of output. If it hires 216 workers it will produce 3,128 units of output. The marginal physical product of labor equals
A) 1. B) 112. C) 216. D) 3,128.
According to Simon Kuznets, _____
a. the main force behind economic growth is increases in the quantity of labor b. the main force behind economic growth is increases in the quantity of capital c. the main force behind economic growth is increases in the quality of inputs d. government regulations increase labor productivity e. government regulations decrease labor productivity