Of factors which affect any economy's production potential, the best two listed below are:
a. resources and technology.
b. prices and outputs.
c. wages and prices.
d. taxes and prices.
e. resources and prices.
a
You might also like to view...
The total value of inputs used in the production of 100,000 units of a good manufactured in a country is $150,000. Assume that the country produces only this good and each unit of the good sells for $10
What is the gross domestic product of the country? A) $1,000,000 B) $250,000 C) $150,000 D) $1,150,000
Historically, female students have had ______.
a. the same access to rigorous curriculum as male students b. more access to rigorous curriculum than male students c. less access to rigorous curriculum than male students d. different, but equivalent access to rigorous curriculum as male students
Figure 10.1 depicts a firm's marginal revenue product curve. Why does the marginal revenue product of labor decrease faster as the firm increases its use of labor by 10 hours?
A. Because the marginal product of labor decreases at an increasing rate. B. Because the marginal product of labor decreases at a decreasing rate. C. Because the marginal product of labor increases at an increasing rate. D. Because the marginal product of labor increases at a decreasing rate.
"Everybody has a comparative advantage in something." Do you agree or disagree? Why?
What will be an ideal response?