Which of the following is not a factor of production?
a. labor hours
b. capital equipment
c. acres of cultivatable land
d. money
e. physical plant or factory
D
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In the U.S. balance of payments, exports to Europe are recorded as a
a. a use of funds in the current account. b. negative item in the current account. c. capital inflow item. d. capital outflow item. e. None of the above
Continuing from the question above, an additional 10 people join the group who have expected medical spending of $5,000 per person on average. The new premium will be approximately
a. $1,500 b. $2,200 c. $2,500 d. $4,500
Whether the firm produces or shuts down in the short run, fixed cost is equal to
a. average variable cost b. total cost c. sunk cost d. price e. marginal cost
In recent years, established U.S. stock markets have faced significant competition from:
a. new start ups b. small, regional stock markets c. foreign stock markets d. people buying & selling stocks online