3. A small economy starts the year with $1 million in capital. During the course of the...
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3. A small economy starts the year with $1 million in capital.
During the course of the year, gross investment is $150,000 and depreciation is $50,000. How big is the economy’s stock of capital at the end of the year? LO27.2
a. $1,150,000.
b. $1,100,000.
c. $1,000,000.
d. $850,000.
e. $800,000.
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