A company office can be thought of as
A) a land and labor combination.
B) a trade-off with land.
C) physical capital.
D) a type of entrepreneurship.
Answer: C
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When would the Fed want to carry out a monetary policy that decreases aggregate demand?
What will be an ideal response?
When quantity demanded is greater than quantity supplied
A. price will fall to its equilibrium price. B. price will rise to its equilibrium price. C. price may rise, fall, or stay the same, depending on a variety of factors.
Which of the following is not a reason workers in American industry are more productive than those in many other countries? because of
A. The large supplies of machinery available B. Abundant natural resources C. Technical know-how D. American exceptionalism
Other things being equal, the behavior of a monopolist differs from that of a competitive industry in that
A. the monopolist does not attempt to maximize economic profit. B. the monopolist must consider fixed costs in deciding the optimal level of output to produce in the short run. C. the monopolist hires more labor. D. the monopolist restricts output and hires less labor.