For an economy as a whole,
a. the market value of production must equal expenditure.
b. investment must equal the value of stocks and bonds purchased.
c. wages must equal income.
d. consumption must equal saving.
a
Economics
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The factors of production include
A) capital. B) investment. C) transfers. D) wages.
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Which rationing system leads to the most efficient use of available resources?
A) free market B) physical force C) first come, first served D) random assignment
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A liability to a bank is
a. something that the bank owns. b. something that the bank owes. c. something a customer owes the bank. d. the value of bank buildings and hardware.
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Diminishing marginal productivity implies decreasing total product
a. True b. False Indicate whether the statement is true or false
Economics