The ingredients that go into making any good or service are called the:
A. factors of output.
B. factors of production.
C. output makers.
D. production ingredients.
Answer: B
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Use the data in the table below to answer the next question. The data describes a hypothetical economy and are denominated in billions of dollars.Personal consumption expenditures$4,500Consumption of fixed capital150Gross private domestic investment800Government purchases950Exports65Imports85What is the value of net exports in this economy?
A. ? $20 billion B. ? $65 billion C. $20 billion D. $150 billion
The demand curve for labor is the
A) marginal factor cost curve for labor. B) marginal physical product curve for labor. C) marginal physical product curve for labor times the wage rate. D) marginal revenue product curve for labor.
The marginal factor cost curve for a monopsony:
A. is the labor supply curve. B. lies below the labor supply curve. C. lies above the labor supply curve. D. is unrelated to the labor supply curve.
Political instability is an impediment to development mainly because it:
A. undermines both domestic and foreign investment in a developing country. B. creates cultural and social differences among groups in developing countries. C. produces excessive levels of domestic saving. D. redistributes income.