Which of the following is not considered as a factor of production?
A) money
B) machinery and equipment
C) land
D) unskilled labor
A
You might also like to view...
A monopolistically competitive firm faces a downward-sloping demand curve because
A) of product differentiation. B) its market decisions are affected by the decisions of its rivals. C) it is able to control price and quantity demanded. D) there are few substitutes for its product.
In an hour Jane can solder 50 connections or inspect 20 parts while Jim can solder 25 connections or inspect 20 parts in an hour
A) Jane has a comparative advantage over Jim in both soldering and inspecting. B) Jane has a comparative advantage over Jim in soldering while Jim has a comparative advantage in inspecting. C) Jim has a comparative advantage over Jane in soldering while Jane has a comparative advantage in inspecting. D) Jim had a comparative advantage over Jane in both soldering and inspecting.
Which of the following is not an argument favoring tariffs? a. They help infant industries grow
b. They increase consumer surplus for domestic consumers. c. They reduce domestic unemployment. d. They are necessary for national security reasons.
The process of an economy adjusting from a recession back to potential GDP in the long run without any government intervention is known as
A) monetary policy. B) an automatic mechanism. C) "releasing sticky prices." D) fiscal policy.