Gross investment is the
A. Wearing out of plant and equipment.
B. Consumption of capital in the production process.
C. Alternative combinations of final goods and services that can be produced with all available resources and technology.
D. Total investment expenditure in a given time period.
Answer: D
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Human capital is acquired
A) only in school. B) only through on-the-job training. C) only through job experience. D) through schooling, job training, and experience. E) only at birth, that is, it's people's inborn talents.
Which factor does not affect the elasticity of demand for a good?
(A) The importance of the good to the consumer. (B) The availability of substitute goods. (C) The consumer's perception of the good as necessity or luxury. (D) An increase in population.