A factory can be thought of as
A) a land and labor combination.
B) a trade-off with land.
C) physical capital.
D) a type of entrepreneurship.
C
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Under perfectly competitive conditions, marginal revenue is
a. greater than average revenue. b. equal to average revenue. c. less than average revenue. d. equal to the average variable cost.
The acronym NASDAQ (one of the stock exchanges) stands for
A. National Academy of Stock Dealers Automated Quotations B. New American Securities Dealers Automated Quotations C. National Association of Securities Dealers Automated Quotations D. North American Stock Dealers Automated Quotations
Most innovations come from just a few large industries
a. True b. False Indicate whether the statement is true or false
In the Keynesian cross model, investment spending as a function of national income is a(n): a. horizontal line at a fixed level of expenditure
b. vertical line at a fixed level of real gross domestic product. c. upward-sloping curve. d. downward-sloping curve.