Factor mobility refers to
A. Technological change in the use of capital.
B. Technological change in the use of labor.
C. The ease of reallocating resources.
D. The increase in labor productivity.
Answer: C
Economics
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The cost disease of personal services stems primarily from the fact that
a. prices rise too slowly to provide public receipts. b. inflation has been with us since the early 1970s. c. personal service requires direct contact between producer and consumer. d. sellers of personal services have strong unions.
Economics
“Monopoly has developed in both product and resource markets because of the shortcomings and inefficiencies of competitive markets.” Do you agree? Explain
What will be an ideal response?
Economics