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Principles of Economics Study Set 5
Quiz 18: The Market for the Factors of Production
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Question 301
Multiple Choice
When economists refer to a firm's capital,they are describing the
Question 302
Multiple Choice
The demand curve for capital
Question 303
Multiple Choice
Which of the following best describes the economy's stock of equipment and structures?
Question 304
Multiple Choice
The accumulation of machinery and buildings used in the production of new goods and services is referred to as
Question 305
Multiple Choice
The rental price of capital is
Question 306
Multiple Choice
Capital is paid according to the value of its marginal product
Question 307
Multiple Choice
Which of the following accurately describes how earnings from capital eventually get paid to households?
Question 308
Multiple Choice
The equilibrium rental income paid to the owners of capital at any point in time equals the
Question 309
Multiple Choice
Consider the market for capital equipment.Suppose the value of the marginal product of capital equipment increases.Holding all else constant,the equilibrium rental price of capital equipment will
Question 310
Multiple Choice
Which of the following would be an example of capital for a computer software firm? (i) The firm's computer programmers (ii) The wages the firm pays to its computer programmers (iii) Computer equipment
Question 311
Multiple Choice
Which term below refers to "the accumulation of goods produced in the past that are being used in the present to produce new goods and services"?
Question 312
Multiple Choice
Which of the following would be an example of capital for a retail gasoline station? (i) The gas tanks and pumps (ii) The service attendants' time (iii) The plot of land on which the station sits