MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 1, Problem 3SQ
To determine
Which is not an example of the capital input.
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Which of the following is an example of capital as a factor of production?
Group of answer choices
Stocks
Bonds
money
Equipment used by businesses
Which of the following statements about capital are correct?
a) In economic jargon capital is the net worth of a business enterprise.
b) Capital is defined as anything that is produced that then produces other things
c) An increase in capital will grow the economy because capital is a resource in the production process and an increase in resources increases the production possibilities or potential production of the economy.
d) Capital represents the tools that labor uses and thus an increase in capital tends to increase the productivity of labor (and possibly other resources) and that magnifies economic growth.
e) Most technological advances involve improvements to the tools of production, which is capital, so embodiment of new technology in capital is yet another way capital fosters economic growth.
f) increasing capital in the economy has to lead to greater income inequality, since most capital is owned by the rich.…
Which of the following is NOT a factor of production?
A. trucks used by a furniture company for deliveries
B. a person developing a production schedule for a new product
C. financial capital, or money available to be loaned or invested
D. forested areas that have yet to be developed
Chapter 1 Solutions
MACROECONOMICS FOR TODAY
Ch. 1.6 - Prob. 1.1YTECh. 1.6 - Prob. 2.1YTECh. 1.6 - Prob. 2.2YTECh. 1.6 - Prob. 2.3YTECh. 1.A - Prob. 1SQPCh. 1.A - Prob. 2SQPCh. 1.A - Prob. 1SQCh. 1.A - Prob. 2SQCh. 1.A - Prob. 3SQCh. 1.A - Prob. 4SQ
Ch. 1.A - Prob. 5SQCh. 1.A - Prob. 6SQCh. 1.A - Prob. 7SQCh. 1.A - Prob. 8SQCh. 1.A - Prob. 9SQCh. 1.A - Prob. 10SQCh. 1.A - Prob. 11SQCh. 1.A - Prob. 12SQCh. 1.A - Prob. 13SQCh. 1.A - Prob. 14SQCh. 1.A - Prob. 15SQCh. 1.A - Prob. 16SQCh. 1.A - Prob. 17SQCh. 1.A - Prob. 18SQCh. 1.A - Prob. 19SQCh. 1.A - Prob. 20SQCh. 1 - Prob. 1SQPCh. 1 - Prob. 2SQPCh. 1 - Prob. 3SQPCh. 1 - Prob. 4SQPCh. 1 - Prob. 5SQPCh. 1 - Prob. 6SQPCh. 1 - Prob. 7SQPCh. 1 - Prob. 8SQPCh. 1 - Prob. 1SQCh. 1 - Prob. 2SQCh. 1 - Prob. 3SQCh. 1 - Prob. 4SQCh. 1 - Prob. 5SQCh. 1 - Prob. 6SQCh. 1 - Prob. 7SQCh. 1 - Prob. 8SQCh. 1 - Prob. 9SQCh. 1 - Prob. 10SQCh. 1 - Prob. 11SQCh. 1 - Prob. 12SQCh. 1 - Prob. 13SQCh. 1 - Prob. 14SQCh. 1 - Prob. 15SQCh. 1 - Prob. 16SQCh. 1 - Prob. 17SQCh. 1 - Prob. 18SQCh. 1 - Prob. 19SQCh. 1 - Prob. 20SQ
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Similar questions
- In the circular-flow diagram, which of the following represents a factor market transaction? A) purchase of a new t.v. B) Expenditure on a new pair of pants. C) Payment for a haircut. D) Payment for raw materieals in the production of bikes.arrow_forwardHow much the economy can produce at its natural rate of output depends on a. technology b. the quantity of available natural resources c. the productivity of labor d. the stock of available capital e. all the abovearrow_forwardWhat are the four basic factors of production? Provide at least one example of each factor of production and discuss how that factor is used economically.arrow_forward
- Describe the five factors of production.arrow_forwardIn the simple circular-flow diagram, who buys the factors of production? A) Households only B) Firms only C) Both households and firms D) Neither households nor firmsarrow_forwardMany economist and business leaders feel this is the most important factor in the Factors of Production? a. Land b. Capital c. Labor d. Entrepeneurshiparrow_forward
- In the simple circular-flow diagram, a. households own the factors of production. b. households buy all the goods and services that firms produce. c. land, labor, and capital flow from households to firms. d. All of the above are correct.arrow_forwardAccording to economists, which one of the following is considered to be capital? A. a pair of stockings B. a bulldozer C. a share of IBM stock D. a savings accountarrow_forward
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