As a Factor of Production, the Term Capital Includes

question 24

Multiple Choice

As a factor of production, the term capital includes:

• A) stocks and bonds issued by corporations.
• B) natural resources such as land and water.
• C) tools, machinery, and buildings.
• D) services provided by the government that enable businesses to be more productive.

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Definitions:

GATT

The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement aimed at reducing trade barriers and promoting international trade until it was replaced by the WTO in 1995.

Dumping

The practice of exporting goods at a price lower than the home market price, usually considered as an unfair trade practice and often subject to penalties.

Act of State Doctrine

A principle that a nation's domestic actions are not subject to judicial scrutiny by foreign courts.

Foreign Sovereign

A term referring to a foreign government or its represented leader, often involved in legal issues concerning jurisdiction and immunity.