Which of the following are factors of production?
a. The outputs generated by the production process transforming land, labor, and capital in to goods and services.
b. Restricted to the land resources such as natural resources that are unimproved by human economic activity.
c. Land (natural resources), labor (human capital, entrepreneurship), and capital (constructed inputs such as factories).
d. Just labor and capital in industrialized countries, where natural resources are no longer used to produce goods and services.
c
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The easiest economic sector to be ‘globalized' is
a. merchandise trade b. capital flows c. migration of labor d. technology transfer e. none of the above
If velocity is constant and equal to 5, a $20 billion shift of the LM curve to the right will be produced by a __________ in the money supply
A) $100 billion increase B) $100 billion decrease C) $4 billion increase D) $4 billion decrease