Economic growth allows a society to consume
A. a higher quality of goods.
B. a wider variety of goods.
C. more goods per person.
D. all of the above.
Answer: D
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Which of the following statements is true?
A) Rational economic agents maximize more than just monetary income. B) It is not necessary to consider the risks of a particular alternative while making an optimal decision. C) An individual does not require information to make optimal decisions. D) The principle of optimization is only accurate when it comes to making monetary decisions.
Which of the following items are considered physical capital?
I. shares of Ford stock traded on the New York Stock Exchange II. the Taco Bell store nearest you III. the rental cars owned by Hertz Rental-A-Car IV. the salaries paid to Intel executives A) II and III B) I and IV C) I, II and III D) I, II and IV