The resource income earned by those who supply ________ is called wages
A) labor B) natural resources C) entrepreneurship D) capital
A
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If a single person has a standard deduction of $6,300, itemized deductions of $3,650, and a personal exemption of $4,000, then the first ________ of income is federal income tax free.
A. $13,950 B. $9,950 C. $10,300 D. $7,650
Ceteris paribus, an increase in the supply of a good causes which of the following?
a. Lowers the equilibrium price, and reduces the quantity bought and sold. b. Raises the equilibrium price, and raises the quantity bought and sold. c. Raises the equilibrium price, and increases the quantity bought and sold. d. Lowers the equilibrium price, and increases the quantity bought and sold. e. Equilibrium price and equilibrium quantity change are indeterminate.
The natural rate hypothesis states that the economy will self-correct back to the natural rate of unemployment, so that a move along a short run Phillips curve will not be permanent
a. True b. False Indicate whether the statement is true or false
A graph with a positive slope indicates that the variables depicted on the axes move in the same directions
a. True b. False Indicate whether the statement is true or false