An improvement in productivity will usually increase profits
a. True
b. False
Indicate whether the statement is true or false
True
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The sum of compensation to employees, rental income, corporate profits, net interest, and proprietors' income is
A) gross domestic product. B) gross domestic income. C) net domestic income at factor cost. D) net domestic product.
Which of the following is an example of a U.S. export of services?
a. a Canadian buys a Ford automobile that was produced in the United States b. a U.S. traveler buys an Irish knit sweater made in Ireland c. a British citizen buys an American Airlines ticket from London to New York d. a U.S. citizen puts money into a French money market account e. a Japanese exchange student buys a Big Mac while attending college in California
Agriculture is a sector of the economy where increased productivity has been accompanied by a significant decrease in employment
a. True b. False Indicate whether the statement is true or false
The wage rate is
A. Not related to labor supply because people must work to survive. B. The payment for labor. C. Not related to the value of leisure because people need to relax. D. The opportunity cost of labor.