A tractor used to prepare land for planting is called
A) land.
B) labor.
C) physical capital.
D) human capital.
C
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As an economy moves down along a straight line production possibilities frontier, what happens to the opportunity cost of producing the good on the horizontal axis?
A) It remains constant. B) It decreases. C) It increases. D) Above the midpoint it decreases until it equals 1 at the midpoint and then it increases. E) None of these depicts what happens to opportunity cost.
The only goods you consume are pizza and soda. Both are normal goods. For you, pizza and soda are substitutes. Which of the following leads you to buy more of both goods?
A) The price of a pizza falls. B) The price of a soda falls. C) Your income increases. D) Both answers A and B are correct.
The demand for a good or service is called a derived demand because it is derived from the demand for the factors of production that produce this good or service
Indicate whether the statement is true or false
Describe the characteristics of an efficient contract between a principal and an agent
What will be an ideal response?