The market that coordinates the exchange of productive inputs between the household and business sectors is the
a. stock market.
b. goods and services market.
c. resource market.
d. loanable funds market.
C
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Which of the following is a fixed cost for ACME manufacturing?
A) wages paid to labor B) the annual fire and theft insurance premiums C) the utility bill D) raw material costs E) the cost of shipping its product to market
Mandating clean technology, cap-and-trade, and taxes are tools that government can use to limit pollution
Indicate whether the statement is true or false
Which of the following did not occur during the Industrial Revolution?
a. Production became more reliant on highly specialized equipment. b. A more efficient division of labor was promoted. c. Workers bore much of the costs of production. d. The transaction costs of contracting with individual resource owners were reduced. e. Technological development increased the productivity of most workers.
A change in consumption caused by a change in disposable income is shown by:
a. a movement along the consumption function. b. a rightward shift of the consumption function. c. a change in the slope of the consumption function. d. a leftward shift of the consumption function. e. the point where the consumption function touches the 45 degree line.