When We Add the Up Value of All Capital Goods,we

question 176

Multiple Choice

When we add the up value of all capital goods,we determine

• A) private investment
• B) the capital stock
• C) a flow phenomenon
• D) GDP
• E) inventory

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Definitions:

Long Run

A period of time in economics in which all factors of production and costs are variable, allowing all inputs to be adjusted.

Output

The total amount of goods or services produced by a company, industry, or economy within a specified period.

Total Cost

The complete cost of production, including both fixed and variable costs, incurred by a firm in producing and selling a quantity of a good or service.

Variable Cost

Expenses that vary in relation to the amount of products or services a company generates.