Factors of production include
A) the economic system.
B) land, labor, capital and entrepreneurship.
C) labor and capital (not land, which is fixed).
D) only capital, land, and labor.
B
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Explain the funding structure of the Social Security and Medicare programs. Why are these programs in danger of running out of funds in the future?
What will be an ideal response?
Which of the following most accurately states the economic significance of exchange?
a. Physical goods have value because they exist; exchange can neither increase nor decrease their value. b. Production of physical goods creates value; exchange merely redistributes this value. c. Exchange creates value by moving goods from parties who value them less to parties who value them more. d. Exchange reduces value since it consumes resources without adding to the physical supply of goods.
Of the $840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, approximately ________ took the form of tax cuts and ________ took the form of increases in government expenditures
A) one-half; one-half B) three-fourths; one-fourth C) one-tenth; nine-tenths D) one-third; two-thirds
One of the limiting factors for using monetary policy is:
A. the real interest rate cannot fall below zero. B. central banks are limited in their ability to make loans. C. the central banks are limited in their ability to print money. D. there is a lower nominal-interest-rate bound of zero.