Which of the following is NOT considered one of the factors of production?
A) land
B) labor
C) capital
D) technology
E) entrepreneurship
D
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If the nominal interest rate increases without any change in the rate of inflation:
A) the ratio of real interest rate to nominal interest rate increases. B) the real interest rate increases. C) the real interest rate decreases. D) the real interest rate remains the same.
Small-denomination time deposits refer to certificates of deposit with a denomination of less than
A) $1,000. B) $10,000. C) $100,000. D) $1,000,000.
A demand curve for The Steel Porcupines' concert tickets would show the:
a. quality of service that customers demand when they buy a ticket. b. number of people who like to attend the concert. c. number of tickets the promoters are willing to sell at each price. d. number of concert tickets that will be purchased at each price.
Which furniture production process would have the highest production function?
A. Furniture made by handsaw and hammer B. Furniture made with power equipment C. Furniture with a mix of handmade and automated labor D. Furniture made in an automated furniture factory