Video poker game and the capital.

Question

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Answer 1

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 11, Problem 1P

(a)

To determine

Video poker game and the capital.

(a)

Expert Solution

Explanation of Solution

The capital can be a large sum of money or any other commodity that can be used to produce other goods and services for the economy. The video poker game provides the entertainment, whereas the item provides and generates income to those who install it. Thus, it is capable of creating income for the future. Thus, it is a capital.

Economics Concept Introduction

Capital: The capital is the large sum of money or any intermediary good that can be used as intermediaries to make other goods and services.

(b)

To determine

Capital and non capital: A $10 bill.

(b)

Expert Solution

Explanation of Solution

The $10 bill provides means to purchase other commodities. But it is not an intermediate commodity. It is a final commodity with which anything can be purchased or sold in the economy. Thus, it is not an investment and not capital in that sense.

(c)

To determine

Capital and non capital: College education.

(c)

Expert Solution

Explanation of Solution

College education helps to convert the individual into a productive labor. It helps to acquire skills and helps the individual to attain a good job and better living standards. Thus, it is considered as capital and especially human capital.

(d)

To determine

Capital and non-capital: Golden gate bridge.

(d)

Expert Solution

Explanation of Solution

The golden gate bridge helps to connect between the two places. It, thus, enables the transport and communication and helps to the faster economic growth. Thus, it is a capital. Since it is on the infrastructure and for the society, it is social infrastructural capital.

(e)

To determine

Capital and non-capital: Shirt on the rack at sears.

(e)

Expert Solution

Explanation of Solution

The shirt is a tangible commodity, and it provides income to the seller, which means the shirt is in terms a capital for the seller. It is a tangible capital of the seller.

(f)

To determine

Capital and non-capital: A government bond.

(f)

Expert Solution

Explanation of Solution

The government bond is an interest yielding money market instrument. The bond is not considered as a capital because it is financial instruments, which are usually not considered as capital.

(g)

To determine

Capital and non-capital: Empire state building.

(g)

Expert Solution

Explanation of Solution

The state building provides the office spaces for many of the firms and companies to operate in the economy, which facilitates the economic growth and development. Thus, it is a capital and since the buildings come under the tangibles, it is a tangible capital.

(h)

To determine

Capital and non-capital: Savings account.

(h)

Expert Solution

Explanation of Solution

The savings account is an account kept in a bank, which stores the money of the individual. It can be withdrawn at any point of time according to the wish of the depositor. Thus, it is a financial instrument, which is not usually considered as a capital.

(i)

To determine

Capital and non-capital: Washington monument.

(i)

Expert Solution

Explanation of Solution

The Washington monument is the tallest building in the DC. It facilitates the trade and commerce of the economy. Thus, it is considered as the infrastructural capital of the economy.

(j)

To determine

Capital and non-capital: A Honda plant.

(j)

Expert Solution

Explanation of Solution

The plant uses the inputs to make the final vehicles with the help of the machinery present inside the plant. Thus, it helps to produce a large quantity of output to the firm. Thus, it comes under the category of tangible capital of the firm.

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Students have asked these similar questions

Answer

M” method Given the following model, solve by the method of “M”. (see image)

As indicated in the attached image, U.S. earnings for high- and low-skill workers as measured by educational attainment began diverging in the 1980s. The remaining questions in this problem set use the model for the labor market developed in class to walk through potential explanations for this trend. 1. Assume that there are just two types of workers, low- and high-skill. As a result, there are two labor markets: supply and demand for low-skill workers and supply and demand for high-skill workers. Using two carefully drawn labor-market figures, show that an increase in the demand for high skill workers can explain an increase in the relative wage of high-skill workers. 2. Using the same assumptions as in the previous question, use two carefully drawn labor-market figures to show that an increase in the supply of low-skill workers can explain an increase in the relative wage of high-skill workers.

Answer 2

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 11, Problem 1P

(a)

To determine

Video poker game and the capital.

(a)

Expert Solution

Explanation of Solution

The capital can be a large sum of money or any other commodity that can be used to produce other goods and services for the economy. The video poker game provides the entertainment, whereas the item provides and generates income to those who install it. Thus, it is capable of creating income for the future. Thus, it is a capital.

Economics Concept Introduction

Capital: The capital is the large sum of money or any intermediary good that can be used as intermediaries to make other goods and services.

(b)

To determine

Capital and non capital: A $10 bill.

(b)

Expert Solution

Explanation of Solution

The $10 bill provides means to purchase other commodities. But it is not an intermediate commodity. It is a final commodity with which anything can be purchased or sold in the economy. Thus, it is not an investment and not capital in that sense.

(c)

To determine

Capital and non capital: College education.

(c)

Expert Solution

Explanation of Solution

College education helps to convert the individual into a productive labor. It helps to acquire skills and helps the individual to attain a good job and better living standards. Thus, it is considered as capital and especially human capital.

(d)

To determine

Capital and non-capital: Golden gate bridge.

(d)

Expert Solution

Explanation of Solution

The golden gate bridge helps to connect between the two places. It, thus, enables the transport and communication and helps to the faster economic growth. Thus, it is a capital. Since it is on the infrastructure and for the society, it is social infrastructural capital.

(e)

To determine

Capital and non-capital: Shirt on the rack at sears.

(e)

Expert Solution

Explanation of Solution

The shirt is a tangible commodity, and it provides income to the seller, which means the shirt is in terms a capital for the seller. It is a tangible capital of the seller.

(f)

To determine

Capital and non-capital: A government bond.

(f)

Expert Solution

Explanation of Solution

The government bond is an interest yielding money market instrument. The bond is not considered as a capital because it is financial instruments, which are usually not considered as capital.

(g)

To determine

Capital and non-capital: Empire state building.

(g)

Expert Solution

Explanation of Solution

The state building provides the office spaces for many of the firms and companies to operate in the economy, which facilitates the economic growth and development. Thus, it is a capital and since the buildings come under the tangibles, it is a tangible capital.

(h)

To determine

Capital and non-capital: Savings account.

(h)

Expert Solution

Explanation of Solution

The savings account is an account kept in a bank, which stores the money of the individual. It can be withdrawn at any point of time according to the wish of the depositor. Thus, it is a financial instrument, which is not usually considered as a capital.

(i)

To determine

Capital and non-capital: Washington monument.

(i)

Expert Solution

Explanation of Solution

The Washington monument is the tallest building in the DC. It facilitates the trade and commerce of the economy. Thus, it is considered as the infrastructural capital of the economy.

(j)

To determine

Capital and non-capital: A Honda plant.

(j)

Expert Solution

Explanation of Solution

The plant uses the inputs to make the final vehicles with the help of the machinery present inside the plant. Thus, it helps to produce a large quantity of output to the firm. Thus, it comes under the category of tangible capital of the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 11, Problem 1P

(a)

To determine

Video poker game and the capital.

(a)

Expert Solution

Explanation of Solution

The capital can be a large sum of money or any other commodity that can be used to produce other goods and services for the economy. The video poker game provides the entertainment, whereas the item provides and generates income to those who install it. Thus, it is capable of creating income for the future. Thus, it is a capital.

Economics Concept Introduction

Capital: The capital is the large sum of money or any intermediary good that can be used as intermediaries to make other goods and services.

(b)

To determine

Capital and non capital: A $10 bill.

(b)

Expert Solution

Explanation of Solution

The $10 bill provides means to purchase other commodities. But it is not an intermediate commodity. It is a final commodity with which anything can be purchased or sold in the economy. Thus, it is not an investment and not capital in that sense.

(c)

To determine

Capital and non capital: College education.

(c)

Expert Solution

Explanation of Solution

College education helps to convert the individual into a productive labor. It helps to acquire skills and helps the individual to attain a good job and better living standards. Thus, it is considered as capital and especially human capital.

(d)

To determine

Capital and non-capital: Golden gate bridge.

(d)

Expert Solution

Explanation of Solution

The golden gate bridge helps to connect between the two places. It, thus, enables the transport and communication and helps to the faster economic growth. Thus, it is a capital. Since it is on the infrastructure and for the society, it is social infrastructural capital.

(e)

To determine

Capital and non-capital: Shirt on the rack at sears.

(e)

Expert Solution

Explanation of Solution

The shirt is a tangible commodity, and it provides income to the seller, which means the shirt is in terms a capital for the seller. It is a tangible capital of the seller.

(f)

To determine

Capital and non-capital: A government bond.

(f)

Expert Solution

Explanation of Solution

The government bond is an interest yielding money market instrument. The bond is not considered as a capital because it is financial instruments, which are usually not considered as capital.

(g)

To determine

Capital and non-capital: Empire state building.

(g)

Expert Solution

Explanation of Solution

The state building provides the office spaces for many of the firms and companies to operate in the economy, which facilitates the economic growth and development. Thus, it is a capital and since the buildings come under the tangibles, it is a tangible capital.

(h)

To determine

Capital and non-capital: Savings account.

(h)

Expert Solution

Explanation of Solution

The savings account is an account kept in a bank, which stores the money of the individual. It can be withdrawn at any point of time according to the wish of the depositor. Thus, it is a financial instrument, which is not usually considered as a capital.

(i)

To determine

Capital and non-capital: Washington monument.

(i)

Expert Solution

Explanation of Solution

The Washington monument is the tallest building in the DC. It facilitates the trade and commerce of the economy. Thus, it is considered as the infrastructural capital of the economy.

(j)

To determine

Capital and non-capital: A Honda plant.

(j)

Expert Solution

Explanation of Solution

The plant uses the inputs to make the final vehicles with the help of the machinery present inside the plant. Thus, it helps to produce a large quantity of output to the firm. Thus, it comes under the category of tangible capital of the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Chapter 11, Problem 1P

(a)

To determine

Video poker game and the capital.

(a)

Expert Solution

Explanation of Solution

The capital can be a large sum of money or any other commodity that can be used to produce other goods and services for the economy. The video poker game provides the entertainment, whereas the item provides and generates income to those who install it. Thus, it is capable of creating income for the future. Thus, it is a capital.

Economics Concept Introduction

Capital: The capital is the large sum of money or any intermediary good that can be used as intermediaries to make other goods and services.

(b)

To determine

Capital and non capital: A $10 bill.

(b)

Expert Solution

Explanation of Solution

The $10 bill provides means to purchase other commodities. But it is not an intermediate commodity. It is a final commodity with which anything can be purchased or sold in the economy. Thus, it is not an investment and not capital in that sense.

(c)

To determine

Capital and non capital: College education.

(c)

Expert Solution

Explanation of Solution

College education helps to convert the individual into a productive labor. It helps to acquire skills and helps the individual to attain a good job and better living standards. Thus, it is considered as capital and especially human capital.

(d)

To determine

Capital and non-capital: Golden gate bridge.

(d)

Expert Solution

Explanation of Solution

The golden gate bridge helps to connect between the two places. It, thus, enables the transport and communication and helps to the faster economic growth. Thus, it is a capital. Since it is on the infrastructure and for the society, it is social infrastructural capital.

(e)

To determine

Capital and non-capital: Shirt on the rack at sears.

(e)

Expert Solution

Explanation of Solution

The shirt is a tangible commodity, and it provides income to the seller, which means the shirt is in terms a capital for the seller. It is a tangible capital of the seller.

(f)

To determine

Capital and non-capital: A government bond.

(f)

Expert Solution

Explanation of Solution

The government bond is an interest yielding money market instrument. The bond is not considered as a capital because it is financial instruments, which are usually not considered as capital.

(g)

To determine

Capital and non-capital: Empire state building.

(g)

Expert Solution

Explanation of Solution

The state building provides the office spaces for many of the firms and companies to operate in the economy, which facilitates the economic growth and development. Thus, it is a capital and since the buildings come under the tangibles, it is a tangible capital.

(h)

To determine

Capital and non-capital: Savings account.

(h)

Expert Solution

Explanation of Solution

The savings account is an account kept in a bank, which stores the money of the individual. It can be withdrawn at any point of time according to the wish of the depositor. Thus, it is a financial instrument, which is not usually considered as a capital.

(i)

To determine

Capital and non-capital: Washington monument.

(i)

Expert Solution

Explanation of Solution

The Washington monument is the tallest building in the DC. It facilitates the trade and commerce of the economy. Thus, it is considered as the infrastructural capital of the economy.

(j)

To determine

Capital and non-capital: A Honda plant.

(j)

Expert Solution

Explanation of Solution

The plant uses the inputs to make the final vehicles with the help of the machinery present inside the plant. Thus, it helps to produce a large quantity of output to the firm. Thus, it comes under the category of tangible capital of the firm.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 11, Problem 1P

(a)

To determine

Video poker game and the capital.

(a)

Expert Solution

Explanation of Solution

The capital can be a large sum of money or any other commodity that can be used to produce other goods and services for the economy. The video poker game provides the entertainment, whereas the item provides and generates income to those who install it. Thus, it is capable of creating income for the future. Thus, it is a capital.

Economics Concept Introduction

Capital: The capital is the large sum of money or any intermediary good that can be used as intermediaries to make other goods and services.

(b)

To determine

Capital and non capital: A $10 bill.

(b)

Expert Solution

Explanation of Solution

The $10 bill provides means to purchase other commodities. But it is not an intermediate commodity. It is a final commodity with which anything can be purchased or sold in the economy. Thus, it is not an investment and not capital in that sense.

(c)

To determine

Capital and non capital: College education.

(c)

Expert Solution

Explanation of Solution

College education helps to convert the individual into a productive labor. It helps to acquire skills and helps the individual to attain a good job and better living standards. Thus, it is considered as capital and especially human capital.

(d)

To determine

Capital and non-capital: Golden gate bridge.

(d)

Expert Solution

Explanation of Solution

The golden gate bridge helps to connect between the two places. It, thus, enables the transport and communication and helps to the faster economic growth. Thus, it is a capital. Since it is on the infrastructure and for the society, it is social infrastructural capital.

(e)

To determine

Capital and non-capital: Shirt on the rack at sears.

(e)

Expert Solution

Explanation of Solution

The shirt is a tangible commodity, and it provides income to the seller, which means the shirt is in terms a capital for the seller. It is a tangible capital of the seller.

(f)

To determine

Capital and non-capital: A government bond.

(f)

Expert Solution

Explanation of Solution

The government bond is an interest yielding money market instrument. The bond is not considered as a capital because it is financial instruments, which are usually not considered as capital.

(g)

To determine

Capital and non-capital: Empire state building.

(g)

Expert Solution

Explanation of Solution

The state building provides the office spaces for many of the firms and companies to operate in the economy, which facilitates the economic growth and development. Thus, it is a capital and since the buildings come under the tangibles, it is a tangible capital.

(h)

To determine

Capital and non-capital: Savings account.

(h)

Expert Solution

Explanation of Solution

The savings account is an account kept in a bank, which stores the money of the individual. It can be withdrawn at any point of time according to the wish of the depositor. Thus, it is a financial instrument, which is not usually considered as a capital.

(i)

To determine

Capital and non-capital: Washington monument.

(i)

Expert Solution

Explanation of Solution

The Washington monument is the tallest building in the DC. It facilitates the trade and commerce of the economy. Thus, it is considered as the infrastructural capital of the economy.

(j)

To determine

Capital and non-capital: A Honda plant.

(j)

Expert Solution

Explanation of Solution

The plant uses the inputs to make the final vehicles with the help of the machinery present inside the plant. Thus, it helps to produce a large quantity of output to the firm. Thus, it comes under the category of tangible capital of the firm.

Answer 6

Chapter 11, Problem 1P

(a)

To determine

Video poker game and the capital.

(a)

Expert Solution

Explanation of Solution

The capital can be a large sum of money or any other commodity that can be used to produce other goods and services for the economy. The video poker game provides the entertainment, whereas the item provides and generates income to those who install it. Thus, it is capable of creating income for the future. Thus, it is a capital.

Economics Concept Introduction

Capital: The capital is the large sum of money or any intermediary good that can be used as intermediaries to make other goods and services.

Answer 7

Chapter 11, Problem 1P

(a)

To determine

Video poker game and the capital.

Answer 8

(a)

Expert Solution

Explanation of Solution

The capital can be a large sum of money or any other commodity that can be used to produce other goods and services for the economy. The video poker game provides the entertainment, whereas the item provides and generates income to those who install it. Thus, it is capable of creating income for the future. Thus, it is a capital.

Answer 9

(a)

Expert Solution

Answer 10

(a)

Expert Solution

Answer 11

Expert Solution

Answer 12

Economics Concept Introduction

Capital: The capital is the large sum of money or any intermediary good that can be used as intermediaries to make other goods and services.

Answer 13

(b)

To determine

Capital and non capital: A $10 bill.

(b)

Expert Solution

Explanation of Solution

The $10 bill provides means to purchase other commodities. But it is not an intermediate commodity. It is a final commodity with which anything can be purchased or sold in the economy. Thus, it is not an investment and not capital in that sense.

Answer 14

(b)

To determine

Capital and non capital: A $10 bill.

Answer 15

(b)

Expert Solution

Explanation of Solution

The $10 bill provides means to purchase other commodities. But it is not an intermediate commodity. It is a final commodity with which anything can be purchased or sold in the economy. Thus, it is not an investment and not capital in that sense.

Answer 16

(b)

Expert Solution

Answer 17

(b)

Expert Solution

Answer 18

Expert Solution

Answer 19

(c)

To determine

Capital and non capital: College education.

(c)

Expert Solution

Explanation of Solution

College education helps to convert the individual into a productive labor. It helps to acquire skills and helps the individual to attain a good job and better living standards. Thus, it is considered as capital and especially human capital.

Answer 20

(c)

To determine

Capital and non capital: College education.

Answer 21

(c)

Expert Solution

Explanation of Solution

College education helps to convert the individual into a productive labor. It helps to acquire skills and helps the individual to attain a good job and better living standards. Thus, it is considered as capital and especially human capital.

Answer 22

(c)

Expert Solution

Answer 23

(c)

Expert Solution

Answer 24

Expert Solution

Answer 25

(d)

To determine

Capital and non-capital: Golden gate bridge.

(d)

Expert Solution

Explanation of Solution

The golden gate bridge helps to connect between the two places. It, thus, enables the transport and communication and helps to the faster economic growth. Thus, it is a capital. Since it is on the infrastructure and for the society, it is social infrastructural capital.

Answer 26

(d)

To determine

Capital and non-capital: Golden gate bridge.

Answer 27

(d)

Expert Solution

Explanation of Solution

The golden gate bridge helps to connect between the two places. It, thus, enables the transport and communication and helps to the faster economic growth. Thus, it is a capital. Since it is on the infrastructure and for the society, it is social infrastructural capital.

Answer 28

(d)

Expert Solution

Answer 29

(d)

Expert Solution

Answer 30

Expert Solution

Answer 31

(e)

To determine

Capital and non-capital: Shirt on the rack at sears.

(e)

Expert Solution

Explanation of Solution

The shirt is a tangible commodity, and it provides income to the seller, which means the shirt is in terms a capital for the seller. It is a tangible capital of the seller.

Answer 32

(e)

To determine

Capital and non-capital: Shirt on the rack at sears.

Answer 33

(e)

Expert Solution

Explanation of Solution

The shirt is a tangible commodity, and it provides income to the seller, which means the shirt is in terms a capital for the seller. It is a tangible capital of the seller.

Answer 34

(e)

Expert Solution

Answer 35

(e)

Expert Solution

Answer 36

Expert Solution

Answer 37

(f)

To determine

Capital and non-capital: A government bond.

(f)

Expert Solution

Explanation of Solution

The government bond is an interest yielding money market instrument. The bond is not considered as a capital because it is financial instruments, which are usually not considered as capital.

Answer 38

(f)

To determine

Capital and non-capital: A government bond.

Answer 39

(f)

Expert Solution

Explanation of Solution

The government bond is an interest yielding money market instrument. The bond is not considered as a capital because it is financial instruments, which are usually not considered as capital.

Answer 40

(f)

Expert Solution

Answer 41

(f)

Expert Solution

Answer 42

Expert Solution

Answer 43

(g)

To determine

Capital and non-capital: Empire state building.

(g)

Expert Solution

Explanation of Solution

The state building provides the office spaces for many of the firms and companies to operate in the economy, which facilitates the economic growth and development. Thus, it is a capital and since the buildings come under the tangibles, it is a tangible capital.

Answer 44

(g)

To determine

Capital and non-capital: Empire state building.

Answer 45

(g)

Expert Solution

Explanation of Solution

The state building provides the office spaces for many of the firms and companies to operate in the economy, which facilitates the economic growth and development. Thus, it is a capital and since the buildings come under the tangibles, it is a tangible capital.

Answer 46

(g)

Expert Solution

Answer 47

(g)

Expert Solution

Answer 48

Expert Solution

Answer 49

(h)

To determine

Capital and non-capital: Savings account.

(h)

Expert Solution

Explanation of Solution

The savings account is an account kept in a bank, which stores the money of the individual. It can be withdrawn at any point of time according to the wish of the depositor. Thus, it is a financial instrument, which is not usually considered as a capital.

Answer 50

(h)

To determine

Capital and non-capital: Savings account.

Answer 51

(h)

Expert Solution

Explanation of Solution

The savings account is an account kept in a bank, which stores the money of the individual. It can be withdrawn at any point of time according to the wish of the depositor. Thus, it is a financial instrument, which is not usually considered as a capital.

Answer 52

(h)

Expert Solution

Answer 53

(h)

Expert Solution

Answer 54

Expert Solution

Answer 55

(i)

To determine

Capital and non-capital: Washington monument.

(i)

Expert Solution

Explanation of Solution

The Washington monument is the tallest building in the DC. It facilitates the trade and commerce of the economy. Thus, it is considered as the infrastructural capital of the economy.

Answer 56

(i)

To determine

Capital and non-capital: Washington monument.

Answer 57

(i)

Expert Solution

Explanation of Solution

The Washington monument is the tallest building in the DC. It facilitates the trade and commerce of the economy. Thus, it is considered as the infrastructural capital of the economy.

Answer 58

(i)

Expert Solution

Answer 59

(i)

Expert Solution

Answer 60

Expert Solution

Answer 61

(j)

To determine

Capital and non-capital: A Honda plant.

(j)

Expert Solution

Explanation of Solution

The plant uses the inputs to make the final vehicles with the help of the machinery present inside the plant. Thus, it helps to produce a large quantity of output to the firm. Thus, it comes under the category of tangible capital of the firm.

Answer 62

(j)

To determine

Capital and non-capital: A Honda plant.

Answer 63

(j)

Expert Solution

Explanation of Solution

The plant uses the inputs to make the final vehicles with the help of the machinery present inside the plant. Thus, it helps to produce a large quantity of output to the firm. Thus, it comes under the category of tangible capital of the firm.