The main reason the United States' standard of living is higher than that of India and China is that we have more
A. land.
B. labor.
C. capital.
D. money.
C. capital.
You might also like to view...
In the short run, a perfectly competitive firm will shut down if:
a. price is less than average cost. b. marginal revenue is equal to marginal cost. c. total revenue is less than total variable cost. d. total revenue is equal to total cost.
Foreign demand for U.S. dollars also represents a supply of dollars.
Answer the following statement true (T) or false (F)
Due to the added worker effect, the labor force participation rate
A. is a fairly useless statistic. B. decreases during a recession. C. overcounts the number of workers with a job. D. overcounts the number of workers wanting a job. E. increases during a recession.
Which of the following is a fundamental characteristic of the market system?
A. Property rights. B. Central planning by government. C. Unselfish behavior. D. Government-set wages and prices.