Capital refers to
A. manufactured goods used to produce other goods or services.
B. the work and time for which employees are paid.
C. natural resources as well as "man"-made goods.
D. the person who assembles the needed resources to start a business.
A. manufactured goods used to produce other goods or services.
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In the above figure, a price of $35 per dozen would result in
A) a shortage. B) equilibrium. C) a surplus. D) upward pressure on prices.
How does the Fed Open Market Committee increase the money supply?
How does a perfect market influence output?
(A) Different firms each strive to make more goods and capture more of the market. (B) Different firms make different amounts of goods, but some make a profit and others do not. (C) Each firm makes its output as large as possible even though some goods are not sold. (D) Each firm adjusts its output so that its costs, including profit, are covered.
How is economic growth shown by the production possibilities curve?
A) by shifting the curve to the right B) by moving the curve to the left C) by moving up the existing curve D) by changing the shape of the curve from a straight line to one that is bowed