Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
12th Edition
ISBN: 9780134078779
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
Question
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Chapter 11, Problem 1.1P

(a)

To determine

Classifying capital.

(a)

Expert Solution
Check Mark

Explanation of Solution

Life guard training and certification from the Red Cross is regarded as the intangible human capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(b)

To determine

Classifying capital.

(b)

Expert Solution
Check Mark

Explanation of Solution

The ice cream factory is regarded as tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(c)

To determine

Classifying capital.

(c)

Expert Solution
Check Mark

Explanation of Solution

The roller coaster is regarded as the tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(d)

To determine

Classifying capital.

(d)

Expert Solution
Check Mark

Explanation of Solution

Individual retirement account cannot be regarded as the capital, as it is merely a financial instrument.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(e)

To determine

Classifying capital.

(e)

Expert Solution
Check Mark

Explanation of Solution

The Air and Space Museum is regarded as social capital or infrastructure.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(f)

To determine

Classifying capital.

(f)

Expert Solution
Check Mark

Explanation of Solution

The shares of a stock are merely a financial instrument, as is not regarded as capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(g)

To determine

Classifying capital.

(g)

Expert Solution
Check Mark

Explanation of Solution

All terrain vehicles are represented as a social capital or infrastructure.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(h)

To determine

Classifying capital.

(h)

Expert Solution
Check Mark

Explanation of Solution

Cans of paint are regarded as tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(i)

To determine

Classifying capital.

(i)

Expert Solution
Check Mark

Explanation of Solution

Dollar coins are not capital but a financial instrument.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(j)

To determine

Classifying capital.

(j)

Expert Solution
Check Mark

Explanation of Solution

Home for cubs is a tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

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