Human resources that perform the functions of organizing, managing, and assembling the other factors of production are called
A. productive capital.
B. venture capital.
C. entrepreneurs.
D. physical capital.
Answer: C
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Refer to Table 20-19. Looking at the table above, what is the rate of growth of the average price level from 2014 to 2015?
A) 1% B) 2% C) 3% D) 4% E) 5%
Initially trade between the United States and Canada is balanced. Then, if a change in the exchange rate reduces the U.S. dollar price of Canadian goods, ceteris paribus, we would expect
A. a trade surplus in Canada. B. a trade surplus in the United States. C. a trade deficit in Canada. D. a trade deficit in both countries.
Suppose a bank has $1,000 in deposits and $100 in reserves. If the desired reserve ratio is 5 percent, how much can this bank increase its loans?
A) $80 B) $0 C) $100 D) $400 E) $50
The total output produced with any quantity of labor is equal to the sum of the
A) marginal products of each of the workers hired. B) average products of each of the workers hired. C) total wages the firm pays its workers. D) Both answers A and B are correct.