Summarize the four supply factors in economic growth
Please provide the best answer for the statement.
The four supply factors in economic growth are the quantity and quality of the natural resource base, the quantity and quality of the labor force, the supply or stock of capital goods, and the state of technology. Expansion or improvement in any of these areas will increase the potential size of an economy’s GDP.
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A public good is nonrivalrous and excludable
a. True b. False Indicate whether the statement is true or false
D. this amount should be included in calculating that year's GDP
A. net exports. B. government purchases. C. investment. D. consumption.
As your marginal utility declines, your _____ utility rises.
Fill in the blank(s) with the appropriate word(s).
In the United States, the individual income tax is best described as a
a. regressive tax b. proportional tax c. flat tax d. progressive tax e. repressive tax