Where does the money for investment in physical capital come from? It largely comes from:
A. the savings of ordinary households.
B. government subsidies.
C. the reinvestment of funds from businesses.
D. donation by foreign countries.
A. the savings of ordinary households.
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The growing federal budget deficit in the 1980s was accompanied by a
A. growing trade surplus. B. growing trade deficit. C. shrinking trade deficit. D. shrinking capital account surplus.
Restricting imports
A) can protect United States jobs in the protected industry, which increases economic welfare of the country as a whole. B) can protect United States final goods and services in the protected industry and makes consumers better off. C) can protect United States final goods and services in the protected industry and increase economic welfare of the country as a whole. D) can protect United States jobs in the protected industry but will also lead to reductions in U.S. output and income.
The additional cost associated with hiring one additional unit of some factor input, such as labor, is referred to as
A) marginal physical product of labor. B) marginal revenue cost. C) marginal factor cost. D) marginal revenue product.
In factor, or input, markets
A. firms demand resources. B. firms supply goods. C. households demand goods. D. consumers purchase products.