Larry's Lathe-makers Limited produces lathes, which are purchased by furniture manufacturers all over the world. The standard lathe depreciates over a twenty-five-year period. In the national income accounts, the lathes are classified as
A. intermediate goods.
B. capital goods.
C. raw materials.
D. inventory.
Answer: B
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Why does a monopsony increase employment when faced with an effective minimum wage law?
What will be an ideal response?
The linear stages theory of economic growth fails to recognize that increased investment is
a. both a necessary and a sufficient condition. b. a necessary but not a sufficient condition. c. a sufficient but not a necessary condition. d. neither a necessary nor a sufficient condition.
If a union limits its size to the number of employed members it had when the union was first formed, over time there will be
A) an increase in the supply of union labor. B) falling wages as demand for workers increases. C) rising wages as demand for workers increases and the supply increases proportionally. D) rising wages as demand for workers increases but some potential workers are denied a place in the union.
A failure in coordination between workers and employers is most likely to cause an expansionary gap
a. True b. False Indicate whether the statement is true or false