Refer to Figure 7.1. If Angus chooses to earn the most money and Dudley calls the police, Dudley will receive a daily payoff of

What did automobiles and government subsidized highways increase the net benefits of?

(a) Investing privately in highway development (b) Rapid expansion of new cities and towns and revitalization in old cities and towns (c) Development of suburban and exurban areas (d) All of the above

Physical capital differs from raw materials in the sense that raw materials

a. have a longer useful life in production b. are considered human capital c. cannot be used to produce goods and services d. are used up in production e. are not a resource used in production