Which of the following will not contribute to increasing the stock of physical or human capital of a nation?
a. an increase in savings
b. a reduction in taxes on capital gains and stock dividends
c. a lack of enforcement of private property rights
d. the subsidization of higher education
c
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The asset demand for money is related to the function of money called
A) medium of exchange. B) standard of deferred payment. C) store of value. D) unit of account.
The above figure shows the cost curves of a profit-maximizing perfectly competitive firm. If the price equals $7,
a) how much will the firm produce? b) how much is the firm's average total, average variable, and marginal costs? c) how much is the firm's total, total variable, and total fixed costs? d) how much is the firm's total revenue and economic profit? e) what will happen in this market in the long run?