Dividing the nation's income among the factors of production, the largest percentage is paid to
A) labor
B) land
C) capital
D) entrepreneurship
E) labor and capital, with each receiving about 41 percent of the total income.
A
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Managerial economics refers to the application of microeconomics to business decision making
Indicate whether the statement is true or false
When the economy is going strong the:
A. demand for workers increases. B. supply of workers increases. C. demand for workers decreases. D. supply of workers decreases.
Which of the following units is used to measure nominal GDP in the United States?
a. U.S. dollars b. gold c. percentages d. international monetary units e. units of physical goods and services
What is the primary benefit to the United States of a high price for the dollar in the foreign exchange market?
A. It increases the international status of other countries, which gives them an incentive to be our trading partners. B. It makes foreign goods cheaper, helping consumers. C. It encourages exports, helping producers. D. There are no benefits to the United States of a high price for the dollar; a lower price is always better.