An example of a factor of production is
A) a bottle of wine produced by a vineyard. B) the wine exported by a vineyard.
C) a vintner hired by a vineyard. D) a loan granted to a vineyard.
C
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The aggregate demand curve shifts when there are changes in:
A. exogenous spending and the Fed's reaction function. B. potential output and exogenous spending. C. exogenous spending and inflation inertia. D. inflation inertia and aggregate supply shocks.
What are the main features of the Clayton Act?
What will be an ideal response?
An example of featherbedding is
A) the union practice that requires younger workers to be laid off first in a recession. B) a requirement that all construction workers working on government-funded construction projects must be paid union wages. C) employer-paid dental insurance negotiated by the union. D) a requirement on railroads to keep a fireman on board after the introduction of diesel engines.
Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Fred's opportunity cost to produce one cake is
A) one-half pie. B) two pies. C) six pies. D) four pies.