In the United States, the productive factor that, as a group, receives the largest fraction of the nation's total income is
A) labor.
B) consumption goods and services.
C) land.
D) entrepreneurshi
A
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If you buy a put option on Treasury futures at 115, and at expiration the market price is 110, the ________ will ________ exercised
A) call; be B) put; be C) call; not be D) put; not be
If an increase in the price of a product from $1 to $2 per unit leads to a decrease in the quantity demanded from 100 to 80 units, then the value of price elasticity of demand is
a. elastic b. inelastic c. unit elastic d. suggestive of an inferior good e. equal to -20
The production function for good X exhibited in the table below is for the:Production Function for Good XL*KQMPK=(?Q/?K)APK=(Q/K)LaborCapitalOutputMarginal Product of CapitalAverage Product of Capital900----910575.75.7092032426.716.2093065733.3B9401,07241.526.809501,52445.230.489601,97645.232.939702,39141.534.169802,72433.334.059902,991A33.2391003,0485.730.4891103,016-3.227.4291202,945-7.124.54
A. short run, since L is the fixed input. B. long run, since K is the variable input. C. short run, since L is the variable input. D. long run, since K is the fixed input.
Refer to the diagram. If the budget line shifts from ab to ac, the:
A. price of K has increased.
B. consumer's money income has fallen.
C. price of K has decreased.
D. price of J has increased.