Which of the following would an economist classify as capital?
A. 100 shares of Microsoft stock.
B. $50 bill.
C. credit card.
D. lawyer's personal computer.
Answer: D
Economics
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If sellers expect the price of a good to rise in the future, what are they likely to do?
(A) Put more goods on the market immediately. (B) Store goods now to sell more in the future. (C) Raise their prices now. (D) Set prices according to the law of demand.
Economics
If the average cost of producing a good is increasing as a firm produces more of the good, then which of the following must be TRUE?
A) AFC is falling. B) AVC is rising. C) MC > AVC. D) All of the above.
Economics