Based on the relative size of factor payments, the most important resource in the U.S. economy is
a. capital.
b. land.
c. labor.
d. natural resources.
c
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The following equations represent the demand and supply for bottles of nail polish
QD = 25 - P QS = -15 + 3P What is the equilibrium price (P) and quantity (Q - in thousands) of bottles of nail polish? A) P = $15; Q = 30 thousand B) P = $10; Q = 15 thousand C) P = $20; Q = 5 thousand D) P = $5; Q = 20 thousand
A lending of a country's savings that occurs when the country has a trade deficit and its citizens purchase real and financial assets from abroad is called a capital inflow
Indicate whether the statement is true or false
The largest category of the unemployed are
A) job losers. B) reentrants. C) job leavers. D) new entrants.
Since it is always a negative number, economists use the convention of taking the absolute value of:
a. income elasticity of demand. b. cross price elasticity of demand. c. price elasticity of supply. d. price elasticity of demand. e. any elasticity calculation.