The national income accounts include a value for the amount of capital stock “used up” during the production of current output. This dollar amount is called
A. appreciation.
B. dollarization.
C. amortization.
D. depreciation.
Answer: D
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Suppose there are two countries, X and Y. If the exchange rate, as measured in X's currency, is currently 9, what do citizens of the nation of Y see when they read their newspapers?
a. The exchange rate for X's currency is 9. b. The exchange rate for X's currency is more than 9. c. The exchange rate for X's currency is 3. d. The exchange rate for X's currency is 0.11. e. Knowing one exchange rate does not mean we can tell the other exchange rate.
Exhibit 15-4 Coffee and tea output (pounds per hour) CountryCoffee Tea Brazil10 5 China 8 8 As shown in Exhibit 15-4, compared to Brazil, China has a comparative advantage in the production of:
A. coffee. B. tea. C. both coffee and tea. D. neither coffee nor tea.