When economists describe a production process as capital-intensive, they mean that the
A. Process needs a greater emphasis on labor in order to increase productivity.
B. Capital used in the process tends to wear out (depreciate) very rapidly.
C. Capital used in the process reflects the most advanced technology.
D. Process uses a high ratio of machinery and other capital to labor.
Answer: D
You might also like to view...
It seems quite possible that cigarette companies concealed information about the effects of smoking on health, causing cigarette prices to be __________ and cigarette sales to be __________ than would have been the case under symmetric information.
A. higher; higher B. higher; lower C. lower; higher D. lower; lower
Which of the following statements about central bank structure and independence is TRUE?
A) In recent years, with the exception of the Bank of England and the Bank of Japan, most countries have reduced the independence of their central banks, subjecting them to greater democratic control. B) Before the Bank of England was granted greater independence, the Federal Reserve was the most independent of the world's central banks. C) Both theory and experience suggest that more independent central banks produce better monetary policy. D) While the European Central Bank is independent, it is not as independent as the Federal Reserve.
Based on the circular flow diagram, what two entities pay wages to households?
a. rest of the world and financial markets
b. government and financial markets
c. firms and government
d. firms and financial markets
The profits from a U.S.-owned Burger King in France are included in the U.S. ________ and the French ________
A) GDP; GNP B) GDP; GDP C) GNP; GDP D) GNP; GNP