9) In economics, the term physial capital A) refers to funds used by businesses to acquire goods and services B) refers to all manufactured resources used for production. Crefers to the process of raising fands through the stock market. D) defines the stock of merchandise already produced

9) In economics, the term physial capital A) refers to funds used by businesses to acquire goods and services B) refers to all manufactured resources used for production. Crefers to the process of raising fands through the stock market. D) defines the stock of merchandise already produced

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter1: The Art And Science Of Economic Analysis

Section: Chapter Questions

Problem 4.7P

See similar textbooks

Related questions

Q: Since the end of World War II, manufacturing firms in the United States and in Europe have been…

Q: In the circular-flow diagram, which of the following represents a factor market transaction? A)…

A: Answer: Answer: Correct answer: option (D) Explanation: circular flow represents the flow of goods…

Q: 6. Which of the following statements about factors of production is aise Ahe term 'factors of…

A: Factors of production are resources which are required for the production of goods and services in…

Q: Explain all the components involved to establish circular flow diagram. Explain the mechanism in…

A: The circular flow of money explains how money and goods are circulated between the household sector…

Q: 2(a) In what sense is capital productive? (b) Is interest earned?

A: 2(a) In what sense is capital productive? The amount of output divided by the volume of inputs is…

Q: Factors of production are A) the mathematical calculations firms make in determining their optimal…

A: Economics has categorised four major types of factors of production. They are land, labor, capital…

Q: IA nation with fixed quantities of resources is able to produce any of the following combinations of…

A: The production possibility curve shows the combination of goods produced in a country using all the…

Q: 2/3 With the production function Y A+KL,if we double, we get an increasing returns production. OA.…

A: Given: Yt=AtKt13Lt23where,A=Stock of ideaK=CapitalL=Labor Since A is given as stock of ideas, this…

Q: (a) Why is education and training rarely provided by firms? What government policies would encourage…

A: Endogenous growth theory is referred to the economic theory that can argue that there is a…

Q: Spatial models can be used to describe how producers stake out "product space" using the range of…

A: ANSWER The product space is a visual representation of a country's exports that is based on…

Q: Which of the following is not an assumption that underlies an economy's production possibilities…

A: The production possibilities curve (PPC) is the downward sloping curve which is concave to the…

Q: production possibilities table for two products, Consumption goods and Capital goods, is found…

A: Dear student, you have asked multiple sub-part questions in a single post and have not mentioned…

Q: 8. Under a Malthusian paradigm, why do wars, pandemics, and famines cause a temporary increase in…

A: The paradigm which depicts that growth in population is exponential potentially while the food…

Q: Microeconomics - Budget Line (BL) Ethan is a collector of pokemon cards and stickers. He has $56…

A: Budget line refers to the locus of points which depicts the affordability of goods determined by the…

Q: What are the types of natural resources and makeup the differences between them?

A: (Since you have posted multiple questions, we will answer the first one for you. If you want a…

Q: 2. Draw a Circular-Flow diagram. Identify the parts of the model that correspond to the flow of…

A: Macroeconomics analyzes the economy as a whole. It studies the aggregate economic concepts such as…

Q: Distinguish between the resource market and the product market in the circular flow model. In what…

A: The market of resource exists where entrepreneurs of resources (example, households) supply the…

Q: What are the possible sources of capital: Microeconomics business concept

A: Capital is defined as the financial asset, which helps in expanding the production level of the…

Q: Can you identify and explain your family’s interaction in the market for factors of production and…

A: The circular flow of money explains how money and goods are circulated between the household sector…

Q: 3. Answer all parts of this question. a) In a production function relating labour input to output,…

A: The functional connection between the amount of a thing produced (output) and the elements of…

Q: Q3. Why is there scarcity? A. Because the opportunity set determines this. B. Because theory…

A: Resources are used as raw materials for the production of goods, and it is very important that a…

Q: By going to school an individual will obtain which "factor of production"? O Money. O Physical…

A: the factor of production tells us about the various items needed in the production process and which…

Q: Exhibit 2-10 production possibilities curve data A B C D E Capital Goods 0 1 2 3 4 Consumption…

A: When an economy is faced with the production possibility table as given in the Exhibit 2-10. As…

Q: Suppose that an economy's capital increases so that the labor-capital ratio decreases. According to…

A: Economic capital is a risk indicator that is based on capital. It is the amount of capital necessary…

Q: QUESTION ONE [3 1.1 Explain the basic economic problem of scarcity. (1 1.2 List and discuss the two…

A: Since you have posted multiple questions , I have answered the first one for you as per the policy .…

Q: Question 5: In economics, capital is referred to as a: human-made good used to produce other goods…

A: Although capital has different definitions in different contexts, considering the context of…

Q: Draw a circular-flow diagram. Identify the partsof the model that correspond to the flow of goodsand…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: True/False The resources used to make all goods and services are called factors of production

A: # Resources are the building blocks any economy. Without these we can't think of producing any good…

Q: (b) Use a model of endogenous growth to explain how encouraging more private investment in education…

A: Endogenous growth theory is referred to the economic theory that can argue that there is a…

Q: Question 6 If opportunity costs are constant, then O the production possibilities curve does not…

A: Opportunity cost When we produce more units of a good then we have to for go the quntity of other…

Q: 2. The object of microeconomic analysis is not: a) firm; b) industry; c) gross national product; d)…

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: Answer the question based on the following information: Suppose 10 units of product X can be…

A: Total expense alludes to the absolute cost brought about in arriving at a specific degree of yield;…

Q: shows the possible combinations of two types of goods that can be produced when available resources…

A: The resources in the economy are limited. They are scarce as well. The human needs, however, are…

Q: n the Spesific Factors Model, assume that in Country A, "wheat" is produced by using land and labor,…

A: Specific Factors Model assumed that in economy there are two factors of production: Land and Labor…

Q: Q: Determine whether the statement is true or false:- Economic relations in the production process…

A: Economic relations do not depend on form of ownership. It depends on the factors of production.

Q: In Jun 2021, in an attempt to stay healthy and get fit, I signed up for a year membership contract…

A: In a market, when an individual makes economic decision, he takes care of various factors that…

Q: In the production model developed and presented in classes, which of the following is NOT an…

A: An exogenous variable in an economic model is one whose value is determined outside of the model and…

Q: Which of the following statements is the best articulation of Malthusian dynamics? (A) “Technology…

A: In economics, economists developed theor specfiic findings and they use.some assumptions to prove…

Q: Microeconomics - Budget Line (BL) Ethan is a collector of pokemon cards and stickers. He has $56…

A: Budget line shows different combinations of two good that can be bought with the given level of…

Q: In the simple circular-flow diagram, a. households own the factors of production. b. households…

Q: n India, the availability of labor is comparatively more than the availability of capital. What…

A: The production method that should be used will depend upon the availability of capital or labor.

Q: Q13. The model that economists use for illustrating the process of individual choice in a situation…

A: Opportunity set: It shows all the possible combinations of consumption.

Question

9) In economics, the term plysical capital
A) refers to funds used by businesses to acquire goods and services.
B) refers to all manufactured resources used for production.
C) refers to the process of raising fands through the stock market.
D) defines the stock of merchandise already produced.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

_____1. It is the wise use of money and time a) Economics c) Goods and services b) Probability d) None of the above _____2. It is the analysis and evaluation of monetary consequences by using the theories and principles of economics to engineering applications, designs and projects. a) Economics c) Goods and services b) Engineering Economy d) None of the above _____3. It is defined as any tangible economic product (soap, car, shirts, tools, machines, etc) that contributes directly or indirectly to the satisfaction of human wants. a) Goods or commodity c) Goods and services b) Engineering Economy d) None of the above _____4. Are those products or services that are directly used by people to satisfy their wants. a) Goods or commodity c) Consumers Goods and services b) Engineering Economy d) None of the above _____5. It also satisfy human wants but indirectly in as much as, they are used to produce the consumer goods and services a) Producer goods and services c) Consumers Goods and…
Q: Determine whether the statement is true or false:- Economic relations in the production process do not depend on the form of ownership.
True/False The resources used to make all goods and services are called factors of production
Please use the graph to answer the given questions. Assume the people act rationally. Which of the statements best describes a situation represented by point A? a) Carly decides against purchasing a corporate bond because she has another investment opportunity that returns 12%. b) Jeff agrees to lend money to his brother, who plans to use the funds to open a shoe store. c) Janine predicts that, if she borrows to expand operations, she will earn a rate of profit higher than the interest rate of the loan. So, she decides to take out the loan. d) Wayne projects that if he takes out a loan to open another gym franchise, he will earn a lower return than the interest rate he would have to pay, so he decides against it. Given the market conditions, what will be the prevailing interest rate? a) 10% b) 2% b) 6% d) 18% e) 12% Given the market conditions, how much will be available in loanable funds? a) $90 billion b) $50 billion c) $70 billion d) $10 billion e) $30 billion
Identify the reference class of the attribute class of the following sentence a.Ray is a football player. b. Good children help their parents at home. 2. Write one General statement and one particular statement 3.write one sound argument 4.write one argument depicting modus linens 5.write one argument depicting the fallacy of affirming the consequent
Whether a certain criterion is determinant or not is independent of the situation in which a product is consumed. True False In the context of disposing of consumer refuse, recycling cuts down on garbage while providing raw materials for other new products. True False Which of the following is a fundamental emotion evoked by positive, anticipatory appraisals that signal uncertainty about a positive outcome? a. Hope b. Confusion c. Surprise d. Pride Which of the following best describes chronic, repetitive purchasing behaviors that are in response to negative events or feelings? a. Addictive consumption b. Impulsive purchasing c. Window shopping d. Compulsive buying Retaliatory revenge is when a consumer yells insults and makes a public scene in an effort to harm the business. True False
Match each term with the correct definition. economics opportunity costmarginal analysis utilitya. The next-best thing that must be forgone in order to produce one more unit of a given product.b. The pleasure, happiness, or satisfaction obtained from consuming a good or service.c. The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.d. Making choices based on comparing marginal benefits with marginal costs.
Please describe each step to solve the problem presented below:
Generally, the study of economics has to do with Question 24 options: How resources are not scarce. How people make decisions in the face of scarcity. How to ignore opportunity costs. How the stock market operates during a recession.
The primary focus of energy economics is how: Group of answer choices a-Energy production is decreasing b-People deal with the scarcity of energy c-People conserve crude oil for future use d-Energy consumption is increasing
Select an incorrect statement with regard to the study of economics(a) study of consumption(b) study of production(c) study of distribution(d) study of investment
Which statement best describes how scarcity is an important part of business economics? Scarcity permits consumers to establish the cost at which producers will manufacture goods. Scarcity forces consumers and producers to consider the opportunity costs of decisions. Scarcity forces producers to reduce supply to meet consumer demand. Scarcity allows consumers and producers to avoid distinguishing between needs and wants.