The factor of production called "land" can be defined as the:
A. earth and anything naturally occurring on or in it used to produce goods and services.
B. fraction of total costs spent on rent, lease, or mortgage.
C. earth and any structures on it that are used to produce goods and services.
D. area of the earth exchanged in the real estate market by businesses.
Answer: A
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Antitrust enforcement of vertical relationships is generally focused on
a. The dominant firm using vertical contracts to extend market power to other levels of the supply chain b. Vertical contracts that increase the intensity of competition c. Vertical contracts that help consumers d. All of the above
The Four Tigers include
a. Hong Kong and Singapore b. Japan and Malaysia c. China and Japan d. South Korea and Taiwan e. Both a and d are correct
Economists tend to see taxing an action that produces a negative externality as:
A. the second best solution possible, but often unattainable. B. the best solution possible and often the most attainable. C. the best solution possible, but often unattainable. D. the second best solution possible but one that is attainable.
Answer the following statements true (T) or false (F)
1) When a company declares bankruptcy, stockholders are the first to be paid when company assets are sold. 2) Payments to holders of corporate bonds are known as dividends. 3) Index funds are an example of passively managed funds. 4) Actively managed funds consistently outperform index funds.