The owner of a productive resource is most usefully thought of as the person who
A) can appropriate the income from its use.
B) can use it most efficiently.
C) is willing to pay the most to obtain it.
D) possesses legal title.
A
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A vertical LM curve means that
A) monetary policy has no impact on the interest rate. B) monetary policy has no impact on income. C) fiscal policy has no impact on the interest rate. D) fiscal policy has no impact on income.
Which of the following is NOT a normative standard for income distribution?
A) the productivity standard B) the egalitarian principle C) rewarding people according to merit D) All of the above are normative standards.
The short run aggregate supply curve refers to a period in which input prices have not yet had time to adjust to changes in aggregate demand
a. True b. False Indicate whether the statement is true or false
Christopher is an unpaid, stay-at-home father who works as a volunteer at the local Habitat for Humanity chapter. Currently, Christopher is not looking for a paid job. The Bureau of Labor Statistics counts Christopher as
a. unemployed and in the labor force. b. unemployed but not in the labor force. c. in the labor force but not unemployed. d. neither in the labor force nor unemployed.