Which of the following is an example of a produced factor of production?
a. a plant in which automobiles are assembled
b. skills that people accumulate in high school and college
c. skills that people accumulate through experience in the workplace
d. All of the above are correct.
d
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The term capital in economic theory refers to
A) any privately owned resource. B) bonds, stocks, and similar financial assets. C) money available for lending or spending. D) produced goods used to produce future goods. E) savings out of income.
Which one of the following would cause an increase in the supply of cardboard?
A) a decrease in the demand for cardboard B) an increase in the price of cardboard C) an increase in taxes applied to cardboard producers D) an improvement in the technology used to produce cardboard
In the United States, antitrust enforcement focuses on
A) the profitability of the leading firms in an industry. B) the degree of market concentration within a market. C) the average level of prices charged by firms. D) the price-cost margin of an industry.
Inheritance accounts for about
A. 10 percent of income inequality. B. 15 percent of income inequality. C. 5 percent of income inequality. D. 30 percent of income inequality.