Answer to Question #181953 in Macroeconomics for James

Question

QUESTION 5

When economists use the term capital, they:

1. Are referring only to financial capital.
2. Are referring to financial capital and opportunity cost.
3. Do not mean financial capital.
4. Both answers A and B above.
5. Both answers A and C above. 

QUESTION 6

Different products:

1. Cannot exist.
2. Have different production functions.
3. Have identical production functions.
4. All of the above.
5. None of the above.

QUESTION 7

Eventually, additional workers:

1. Will have decreasing marginal product.
2. Will have increasing marginal product.
3. Will not have a marginal product.
4. Will forget their marginal product.
5. All of the above.

Answer 1

5.Are referring only to financial capital.

6.Have different production functions

7.Will have decreasing marginal product.