The quantitative relationship between inputs and outputs is called
A. production technology.
B. labor-intensive technology.
C. capital-intensive technology.
D. consumer technology.
Answer: A
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A) housing B) manufacturing C) high-tech D) banking
If we observe that when the price of ice cream rises by 10%, ice cream manufacturers increase the quantity supplied of ice cream by 20%, then the price elasticity of supply is 2
a. True b. False Indicate whether the statement is true or false
Arbitration is a major source of union power
Indicate whether the statement is true or false
Growth is advantageous to a nation because it:
A. promotes faster population growth. B. lessens the burden of scarcity. C. eliminates the economizing problem. D. slows the growth of wants.