Which of the following is an example of a factor of production?
A) Land
B) Cell phones
C) Canned soup
D) Television sets
A
You might also like to view...
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080If they are given 2 days to work how many scarves could Alexandra make if she spent the whole time knitting scarves?
A. 8 B. 12 C. 24 D. 16
Refer to the accompanying figure. At point D, the opportunity cost of making milk is:
A. high because productive resources that are better-suited to making movies are being used to make milk. B. high because productive resources that are better-suited to making movies are not being used to make milk. C. low because the economy is specializing in making milk. D. high because the economy is not operating efficiently.
The Coase theorem will apply only if
A. the courts can be used to determine the amount of compensation that must be made to the damaged party. B. the number of people involved is small. C. the amount of compensation that must be made to the damaged party is small. D. an individual who is not affected by the externality can negotiate a settlement between the parties imposing the externality and the parties that are harmed by the externality.