Wages, rent, interest payments, and profits paid to the owners of productive resources are called ______ payments.
a. fixed
b. transfer
c. depreciation
d. factor
d. factor
You might also like to view...
Bob is the only carpet installer in a small isolated town. The above figure shows the demand curves of two distinct groups of customers-residential and business. Bob is likely to price discriminate because
A) elasticities differ across markets. B) the installation of carpets cannot be resold. C) Bob can probably identify which consumers belong to which segment. D) All of the above.
The marginal benefit of pollution abatement
A) increases at an increasing rate as abatement increases. B) decreases as pollution abatement increases because of the law of diminishing marginal utility. C) increases as pollution abatement increases because of the law of increasing marginal returns. D) is constant as pollution abatement increases.
At the start of the Civil War, the South adopted a trade policy that did not
a. discourage exports to England. b. ban sales of cotton to the North. c. eventually move England from neutrality in the Civil War. d. weaken the southern war effort.
Individuals in countries with __________ often spend considerable time trying to secure resources from others
a. free riders b. no criminal law c. poorly defined property rights d. side payments e. Pareto efficiency