Which of the following are considered factors of production?
I. Land
II. Labor
III. Physical capital
IV. Entrepreneurship
A) I and II only
B) I and III only
C) I, II and III only
D) I, II, III and IV
D) I, II, III and IV
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A country recently had GDP of $1,200 billion. Its consumption expenditures were $700 billion, its government spent $200 billion, and it had domestic investment of $175 billion. What was the value of this country's net capital outflow? Show your work
People choose to hold a larger quantity of money if
a. the interest rate rises, which causes the opportunity cost of holding money to rise.
b. the interest rate falls, which causes the opportunity cost of holding money to rise.
c. the interest rate rises, which causes the opportunity cost of holding money to fall.
d. the interest rate falls, which causes the opportunity cost of holding money to fall.
The rate of growth in the productivity of capital is 1? percent, the rate of growth of capital is 2? percent, the rate of growth of labor is 1? percent, and the rate of growth in the productivity of labor is 3 percent. From this we know that
What will be an ideal response?
When aggregate expenditure is greater than GDP, then there will be an:
A. Unplanned increase in inventories and GDP will increase B. Unplanned decrease in inventories and GDP will increase C. Unplanned increase in inventories and GDP will decrease D. Unplanned decrease in inventories and GDP will decrease