Is physical capital a produced factor of production? Is human capital a produced factor of production?
Both physical capital and human capital are produced factors of production.
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Refer to Table 8-32. The table above represents hypothetical data from the National Income Accounts for 2015. Use the data to calculate personal income and disposable income
What will be an ideal response?
The slope of the line from the origin to a given point on the curve equals
A) the increase in output. B) the change in input divided by the change in output. C) the average product of the input. D) the marginal product of the input.
Since 1929, the distribution of income in the United States has become:
a. substantially more equal. b. slightly more equal. c. slightly more unequal. d. substantially more unequal.
If the demand for loanable funds shifts to the left, then the equilibrium interest rate
a. and quantity of loanable funds rises. b. and quantity of loanable funds falls. c. rises and the quantity of loanable funds falls. d. falls and the quantity of loanable funds rises.