Which of the following correctly matches the income payment with the resource?
a. rent–land; wages–labor; interest–capital; profits–entrepreneurship
b. profits–land; wages–labor; rent–capital; interest–entrepreneurship
c. taxes–land; interest–labor; rent–capital; profits–entrepreneurship
d. interest–land; taxes–labor; interest–capital; rent–entrepreneurship
e. rent–capital; profits–labor; wages–land; interest–entrepreneurship
A
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What will be an ideal response?
Some markets have many buyers and sellers but fall into the category of monopolistic competition rather than perfect competition. The most common reason for this is
A) firms in these markets make high profits. B) there are high barriers to entering these markets. C) firms in these markets sell identical products. D) firms in these markets do not sell identical products.
The amount of corruption that occurs in a government is hard to measure because:
A. it is illegal, and therefore hidden. B. the benefits subtracted from the costs often go to a small number of people and distort the reality. C. its costs are mostly indirect and nearly impossible to measure. D. All of these are true.
If the price of labor falls, we can expect:
A. demand for labor will increase. B. quantity demanded of labor will increase. C. demand for labor will decrease. D. quantity demanded of labor will decrease.