Which of the following is the best example of capital?
A. a family buying a newly produced home
B. a shoe store adding to its inventories
C. a ship used to carry oil across the ocean
D. the production and sale of a new delivery van for UPS
Ans: C. a ship used to carry oil across the ocean
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The market structure of monopoly exists when
A) there are a small number of interdependent firms that constitute the entire market. B) there is a single producer of a product. C) there are many producers of differentiated products. D) there are many producers of a homogeneous product.
If the number of employed people goes down at the same time that the unemployment rate goes down, then we may conclude that some people must have
A. left the labor force. B. entered the labor force. C. been forced off unemployment benefits. D. either retired or died.