Dead capital is
A. a capital resource that lacks clear title of ownership.
B. machinery that fails to operate properly.
C. machinery that requires constant maintenance.
D. a capital resource that depreciates rapidly.
Answer: A
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Price elasticity of demand and price elasticity of supply are both influenced by
a. the availability of close substitutes for the product b. the proportion of the consumer's budget spend on the product c. the length of the adjustment period considered d. technological conditions such as the additional costs of increasing production e. none of the above
The burden of a tax placed on buyers is:
A. shared between buyers and sellers. B. the buyers' incidence. C. the sellers' incidence. D. higher if the tax is placed on buyers.
Diseconomies of scale are most likely at very low levels of output
a. True b. False Indicate whether the statement is true or false
Explain why the natural rate of unemployment is not equal to 0