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(a)
Classifying capital.
(a)
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Explanation of Solution
Life guard training and certification from the Red Cross is regarded as the intangible human capital.
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)
Classifying capital.
(b)
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Explanation of Solution
The ice cream factory is regarded as tangible capital.
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)
Classifying capital.
(c)
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Explanation of Solution
The roller coaster is regarded as the tangible capital.
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)
Classifying capital.
(d)
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Explanation of Solution
Individual retirement account cannot be regarded as the capital, as it is merely a financial instrument.
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)
Classifying capital.
(e)
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Explanation of Solution
The Air and Space Museum is regarded as social capital or infrastructure.
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)
Classifying capital.
(f)
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Explanation of Solution
The shares of a stock are merely a financial instrument, as is not regarded as capital.
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)
Classifying capital.
(g)
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Explanation of Solution
All terrain vehicles are represented as a social capital or infrastructure.
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)
Classifying capital.
(h)
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Explanation of Solution
Cans of paint are regarded as tangible capital.
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)
Classifying capital.
(i)
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Explanation of Solution
Dollar coins are not capital but a financial instrument.
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)
Classifying capital.
(j)
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Explanation of Solution
Home for cubs is a tangible capital.
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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Chapter 11 Solutions
Principles Of Microeconomics
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