An example of an investment is
A. a restaurant placing otherwise idle money in an interest-bearing savings account.
B. a sock company repurchasing its own shares.
C. a delivery company adding more vehicles its fleet.
D. a pencil factory that can produce consumer and business goods.
Answer: C
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Which of the following would be the best measure of the cost of living?
A) consumer price index B) GDP deflator C) real GDP per person D) real GDP
If the production possibilities curves of two countries have the same slope,
A. neither has a comparative advantage, and there are no gains from trade. B. although there is no comparative advantage, there are potential gains if there are differences in absolute advantage. C. neither has an absolute advantage, and there cannot be gains from trade. D. both have an absolute advantage and can gain from trade.