Among the factors of production are
A. income.
B. wages.
C. capital.
D. all of the above
Answer: C
You might also like to view...
The convergence theory predicts that:
A. even if countries differ in their rates of savings, population growth, and other features, they will still converge to the same growth rate, although not the same level of income. B. countries that start out poor should initially grow faster than ones that start out rich, but will eventually slow to the same growth rate. C. poor countries are not generally expected to sustain a high growth rate and surpass the existing rich countries. D. All of these are predicted by the convergence theory.
The optimal combination of goods for a consumer to purchase is shown by
a. any intersection of the indifference curve and the budget line. b. the point where the budget line touches the vertical axis. c. a point of tangency between the budget line and the indifference curve. d. the point at which the indifference curve parallels the horizontal axis. e. the intersection of two indifference curves.
Refer to Figure 4-5. What is the area that represents consumer surplus after the imposition of the ceiling?
A) A + B + D + F B) A + B + C C) A + B + D + F + G D) A + B+ D
New classical economists like Robert Lucas argue that the Great Depression was primarily caused by
a. lots of mistaken expectations about the future. b. significant falls in investment. c. significant falls in the money supply. d. significant increases in taxes. e. all of the above.